Russia’s Diesel Exports Crash to Multiyear-Low amid Tight Global Market
Russia’s diesel and gasoil exports crashed in the first seven days of August to just 80,000 barrels per day (bpd), the lowest in many years, as Moscow extended restrictions on diesel exports amid a fuel crisis triggered by incessant Ukrainian attacks on Russian refineries. The multi-year low diesel
Source: OilPrice.com
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DW NOTE
Russia's diesel exports have fallen to multiyear lows — in the middle of a global supply crisis caused by the Strait of Hormuz closure that has cut 4% of world oil output. When your refinery runs you don't get to stockpile the diesel; it's either exported or it isn't made. The question is whether Russian refining is offline entirely or whether domestic hoarding has begun.