Free Trial

Surplus Emerged in Russian Domestic Market: Ministry of Energy

OIL PRODUCTS

The situation with the fuel supply to the regions and prices at filling stations is stable, according to the Russian Ministry of Energy, cited by Interfax.

  • Diesel production is twice as much as the market needs, but to further rein in price growth, the government is increasing mandatory sales of diesel on the exchange instead of banning exports, the ministry said.
  • "Since the beginning of 2024, average daily supply of gasoline to the domestic market is up 6% on the same period last year, and diesel fuel is 8% higher,” the Ministry added.
  • Russia has a ban on gasoline exports until Aug. 31.
  • Attacks by Ukrainian drones on refineries may also affect supply to the domestic market and push up prices.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.