The situation on the Russian fuel market is stabilizing – Kommersant
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The situation on the Russian fuel market is stabilizing, fuel reserves have increased by 430 thousand tons since the start of the export ban, and prices are falling. Russian Deputy Prime Minister Alexander Novak stated this in an interview with the Rossiya 24 TV channel.
“The main measure that was taken was a ban on the export of gasoline and diesel fuel. …We saw a stabilization of prices for petroleum products, and on the stock exchange – a decrease in prices from 16% to 20% during this period,” said Mr. Novak (quoted from TASS).
He added that wholesale fuel prices have decreased in almost all regions of the country since the temporary ban was introduced on September 21. “The decline has now been transmitted to small wholesale bases, to oil depots, from where suppliers, for example agricultural producers, purchase petroleum products,” said the Deputy Prime Minister.
In an interview with the Rossiya 24 TV channel, Alexander Novak also stated that all OPEC+ countries comply with obligations to voluntarily reduce oil production. The world oil market, according to him, is balanced, since during a period of record demand for oil it is provided with the necessary supply.
Earlier, Kommersant learned that in the coming days the government is ready to partially lift the ban on the export of diesel fuel due to risks for oil refining – they are associated with the overflow of Transneft storage facilities.
More details in the text “Kommersant” “Dizziness from prohibitions”.
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