Russian official says his country will continue to import gasoline, diesel, and jet fuel

Moscow, Sept 2 (KUNA) -- Russian Deputy Prime Minister Alexander Novak confirmed on Wednesday that his country will continue to import gasoline, diesel fuel, and jet fuel in the current phase, noting that the Organization of the Petroleum Exporting Countries (OPEC) alliance and its partners (OPEC+) do not intend to cut oil production as global demand for crude oil recovers.

Russian news agency RIA Novosti quoted Novak as saying that Russia will continue to import oil products in light of measures taken by the government to ensure stability in the domestic fuel supply market. These remarks come as Russia faces mounting pressure on its refining sector and fuel supplies, having begun importing oil products since July last year, while authorities have extended restrictions on exports of several fuel types to bolster domestic market supply.

Russia had previously resorted to importing gasoline from abroad, including shipments from India, following a decline in production at some refineries and damage to refining capacity due to drone attacks on Russian oil facilities, which contributed to shortages in local fuel supplies. In this context, Moscow has extended the ban on gasoline exports until the end of January 2027, while maintaining restrictions on diesel and jet fuel exports as part of its efforts to prioritize meeting domestic market needs.

Regarding global oil markets, Novak stated that the OPEC+ alliance does not intend to cut oil production, pointing to improving global crude demand. The Russian deputy prime minister’s comments come ahead of a scheduled OPEC+ meeting on September 6 to review the oil market situation and production policy, while sources indicated that the alliance is leaning toward maintaining its current production policy for next October. (End) D.A.N. / R.J.