Russia declared a six-month export ban on gasoline effective on March 1, 2024. The ban is intended to stabilize domestic prices and allow for extended refinery maintenance.
Drone attacks and fires have damaged or disabled several Russian refineries in recent months, including Lukoil’s Novgorod refinery. The Novgorod refinery is Russia’s fourth largest. The ban is expected to safeguard domestic supplies ahead of Russia’s peak demand season, June through August.
This is the second gasoline export ban enacted by Russia in less than six months. A similar ban was imposed between September and November 2023. However, there are several differences.
One major difference, according to Oilprice.com, is “there are no plans to ban diesel exports.” A diesel export ban would have exasperated fears within the diesel supply market, especially for Europe and Brazil.
…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...