Russia increases diesel production after Trump deal – Reuters

The nation is already capable of supplying over 1 million tons of fuel to the global market per month, the news agency says Russia has significantly increased production of diesel in the wake of an agreement reached between Russian President Vladimir Putin and his US counterpart, Donald Trump, Reuters has reported, citing industry sources. Daily output rose from 160,000 tons in early October to 180,000 tons after the Russian government introduced new export quotas in mid-month, the agency said. Moscow has eased its restrictions on diesel exports, allowing Russian companies to ship up to 500,000 tons of fuel to international markets in October while ensuring domestic demand remains fully covered.

Exports of diesel, marine fuel, and gas oil had been banned until October 31, as the government sought to stabilize the domestic market, which was suffering from increased seasonal demand linked to the harvest season. Russia-US diesel deal already having positive effect – Putin aide to RT (VIDEO) According to sources cited by Reuters, domestic demand in Russia is now expected to fall to around 140,000 tons per day as the harvest campaign is largely over. This would free up as much as 40,000 tons of diesel per day or more than 1 million tons per month for export, according to the news agency’s estimates. Between 0. 2 and 0. 3 million tons are likely to be purchased by Russia’s neighbors, the sources said. Trump and Putin agreed on diesel supplies during a phone call on October 9. Following the conversation, the US president announced that Russia would immediately supply more than 300,000 tons of diesel, followed by 500,000 tons in November, another million tons shortly thereafter, and potentially further shipments depending on refining capacity. Washington subsequently issued a…