Moscow’s extended export curbs cut August diesel flows to an eight-year low, tightening global middle distillate supplies.
Russia’s diesel and gasoil exports fell to 80,000 barrels per day in the first week of August, the lowest level in several years. The drop follows Moscow’s decision to prolong restrictions amid a fuel crisis triggered by repeated Ukrainian attacks on refineries.
Last year, Russia shipped as much as 1 million barrels per day of diesel and gasoil. The current decline exacerbates a global middle distillate market already tighter than crude oil supply, according to data estimates.
The reduction in Russian exports adds pressure to refining margins and could push diesel prices higher in key markets.