Kremlin: no plans to raise crude oil supply to offset fuel export ban

He told the government on Wednesday to "work closely with the companies" in order to ensure fuel market stabilisation. Asked, if any administrative measures could be applied to the Russian producers over the domestic fuel market shortages, Peskov said that there was no need for that, but that "work" with the companies will be carried out.

Russia has not discussed with the OPEC+ group of leading oil producers a possible crude oil supply increase to compensate for Russia's fuel exports ban, the Kremlin said on Thursday.

"There are no discussions about this, we adhere to all the agreements within OPEC+ and our partners do the same," Kremlin spokesman Dmitry Peskov said. Russia has grappled with shortages of gasoline and diesel in recent months. Traders said the fuel market in Russia, one of the world's biggest oil producers, has been hit by factors including maintenance at oil refineries, bottlenecks on railways and the weakness of the rouble, which incentivises fuel exports.

Russia has also been reducing its oil supply, promising to cut crude oil exports by 300,000 barrels per day until the year-end. President Vladimir Putin and government officials discussed on Wednesday measures to tackle the fuel crisis. He told the government on Wednesday to "work closely with the companies" in order to ensure fuel market stabilisation.

Asked, if any administrative measures could be applied to the Russian producers over the domestic fuel market shortages, Peskov said that there was no need for that, but that "work" with the companies will be carried out.

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