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Russian Refiners to Ensure Regular Domestic Fuel Supplies

OIL PRODUCTS

Russian refiners have been instructed by Deputy Prime Minister Alexander Novak to ensure regular supply of gasoline and diesel on the exchange market to cover the needs of the domestic market following a meeting on the oil products market yesterday.

  • Oil producers should continue to work together with the Energy Ministry to monitor production and consumption of petroleum products.
  • “It’s necessary to monitor prices at gas stations and wholesale segment, given summer demand growth and seasonal maintenance,” said Novak.
  • The Energy Ministry is monitoring the situation on the fuel market and could, if required, limit exports of motor fuel. Last week the Energy Ministry recommended oil producers to raise domestic supplies and reduce exports but didn’t introduce a ban.
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