Business · Energy & Commodities · 6 hrs ago
Russia says diesel exports can ease global supply pressure
Russia plans to send more diesel fuel to global markets, including the United States.
Deputy Prime Minister Alexander Novak said the extra supplies could help ease a difficult market situation.
He linked the pressure to problems in the Strait of Hormuz and disruptions to infrastructure and logistics.
He also said global refining capacity has fallen.
Novak said oil prices had almost doubled, while diesel fuel markets had already fallen by about 5% to 6%.
He said the extra Russian supplies could partly balance supply and demand.
The comments describe the intended effect of the exports; no further steps or timeline were given.
Russian Deputy Prime Minister Alexander Novak said new Russian diesel supplies could help ease pressure on global markets.
He said the supplies could reach markets including the United States.
Novak linked the market difficulties to disruption in the Strait of Hormuz and reduced global refining capacity.
He said oil prices had almost doubled and Russian supplies were already affecting markets.
He said global diesel fuel markets had adjusted downward by about 5–6%.
- Who
- Russian Deputy Prime Minister Alexander Novak.
- What
- He said additional Russian diesel exports could partly balance global supply and demand.
- When
- October 12, 2026.
- Where
- Global markets, including the United States; Novak spoke in an interview with Vesti.
- Why
- He cited problems in the Strait of Hormuz and reduced global refining capacity.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Speaker
- Alexander Novak, Russian Deputy Prime Minister
- Date
- October 12, 2026
- Potential markets
- Global markets, including the United States
- Diesel market change
- Adjusted downward by about 5–6%, according to Novak
- Reported oil prices
- Had almost doubled, according to Novak
What people are saying
These additional supplies from Russia to world markets will allow us to increase volumes and partially balance supply and demand.
And we are already seeing this, including in the global diesel fuel markets, which adjusted downward by about 5-6%.
Sources
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