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Russian petroleum product exports hit 17-month low, Bloomberg

Russian petroleum product exports hit 17-month low, Bloomberg Illustrative photo (Photo: Getty Images)
Author: Daria Shekina

The export of Russian petroleum products has fallen to a 17-month low due to a temporary ban on diesel fuel shipments and seasonal maintenance that restricted oil refining activities, according to Bloomberg.

According to Bloomberg, petroleum product exports have dropped to 2.2 million barrels per day in the first 28 days of October. This is the lowest level since May 2022 and approximately 3% less than in September and the previous year.

Russian petroleum exports are closely monitored by the oil market to gather information on production after Moscow ceased publishing official production data.

Crude oil deliveries to the country have exceeded the target set under the OPEC+ agreement, according to the latest tanker tracking data reported by Bloomberg.

However, fuel flows have come under pressure due to production constraints, as domestic refineries have not yet completed their scheduled maintenance, which is expected to occur next month.

Gasoline shortages in Russia

It was previously reported that Russians had been experiencing gasoline and diesel shortages in recent weeks.

British intelligence suggests that the deficit is due to a series of factors, including demand from the agricultural sector, annual summer maintenance at refineries, and attractive export prices.

Reuters later reported that the ban on fuel exports from Russia had led to an 80% drop in railway gasoline exports in the first half of October compared to the same period in September.