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Russian Gray Oil Product Exports a "Small Percentage"

OIL PRODUCTS

The Russian energy ministry said the share of ‘gray’ oil product exports was a small percentage but enough to disrupt the market.

  • Russia refers to gray exports as those exported by entities that have not produced the fuel.
  • "It [the share of "gray" exports] is not very large. I will not give you exact numbers yet, because we are still checking it accurately. It is a few percent, but it is enough to create an imbalance in the market," Russian First Deputy Energy Minister Pavel Sorokin said in an interview with RBC TV.
  • Gray oil product exports remain banned out of Russia.

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