Just as demand rises before winter in the northern hemisphere and the US is considering imposing its own export restrictions, Russia extended the ban on most diesel exports until the end of October, which is expected to further tighten supply in the global market. Moscow imposed a ban on diesel exports on producers in July, and Ukraine's attack on Russian refineries caused its crude oil processing rate to drop to a multi-year low. Export restrictions were initially planned to be in place for only a few weeks, then extended until August and further extended until September as attacks continued. “The decision was made to maintain the stability of the domestic fuel market, while also considering that demand for vehicle fuel will be higher during the harvest season,” the Russian government said on Wednesday. The export ban on most marine fuel oil and diesel products was also extended until the end of October.

Just as demand rises before winter in the northern hemisphere and the US is considering imposing its own export restrictions, Russia extended the ban on most diesel exports until the end of October, which is expected to further tighten supply in the global market. Moscow imposed a ban on diesel exports on producers in July, and Ukraine's attack on Russian refineries caused its crude oil processing rate to drop to a multi-year low. Export restrictions were initially planned to be in place for only a few weeks, then extended until August and further extended until September as attacks continued. “The decision was made to maintain the stability of the domestic fuel market, while also considering that demand for vehicle fuel will be higher during the harvest season,” the Russian government said on Wednesday. The export ban on most marine fuel oil and diesel products was also extended until the end of October.