Russia is expected to expand November diesel quotas fourfold to 2 million metric tons as Moscow keeps the export ban through year-end to meet a U.S. supply commitment, Reuters reported.
The combined quotas for November are expected to be four times October’s 500,000 metric tons. Reuters cited two people familiar with the discussions for the estimate. They said exports authorized under existing intergovernmental agreements would continue. A government order expected in early November would exempt more refiners from the ban and establish revised shipment limits.
The current diesel export restrictions are due to expire Saturday, Oct. 31. Reuters’ sources said the government could raise the quotas again if exporters use them up quickly.
In an Oct. 9 Truth Social post, President Donald Trump said Russia would send 300,000 metric tons immediately, followed by 500,000 metric tons in November and 1 million metric tons afterward. Reuters said Trump framed the arrangement as a way to cut diesel prices ahead of the Nov. 3 midterm elections, while EconoTimes previously covered the expected U.S.-bound cargo.
Russian Deputy Prime Minister Alexander Novak said Tuesday that three tankers carrying Russian diesel were already headed to export markets, with a fourth due to depart Wednesday, Oct. 28. Reuters’ sources said refinery utilization rose 25% from the start of October as drone attacks on facilities eased.
Reuters reported that fuel shortages earlier this year led Moscow to keep controls on oil product exports in place. Reuters put Russian diesel output roughly 40% above domestic demand and said refineries returning to normal rates need export markets to keep fuel from accumulating at home.
The government order expected in early November is the next step in setting the shipment limits, as the current restrictions approach their Oct. 31 deadline.
