EconomyNovak estimates global diesel shortage at a quarter of market trade
Russian Deputy Prime Minister Alexander Novak said at Russian Energy Week that the international market faces a diesel shortage of about 25% of global trade, largely because Persian Gulf countries cannot supply international markets. Russia has banned diesel exports since July to serve its domestic market. Novak said understandings between the Russian and US presidents on supplies could partly rebalance the global market, and Russian exports may reach 3.5 million metric tons a month by year-end.
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TASS★★★☆☆2026-10-16 16:30Original
Novak estimates global diesel shortage at a quarter of market trade