Russia's Novak to discuss fuel market with oil companies on Thursday

Russia's Deputy Prime Minister Alexander Novak will hold a meeting with oil producers on Thursday to discuss the domestic fuel market, Novak's spokesperson told Reuters, amid expectations Russia's fuel export ban could be lifted. Three industry sources told Reuters last week that Russian fuel producers have been told by the government to prepare for the scrapping of all remaining restrictions on the export of diesel and gasoline.

Russia's Deputy Prime Minister Alexander Novak will hold a meeting with oil producers on Thursday to discuss the domestic fuel market, Novak's spokesperson told Reuters, amid expectations Russia's fuel export ban could be lifted.

Three industry sources told Reuters last week that Russian fuel producers have been told by the government to prepare for the scrapping of all remaining restrictions on the export of diesel and gasoline. Interfax, citing an unnamed source, reported that the meeting will consider a possible lifting of the fuel export ban along with supplying enough winter diesel for the domestic market.

Russia, the world's top seaborne exporter of diesel, introduced a ban on fuel exports on Sept. 21 to tackle high domestic prices and shortages. The government eased restrictions on Oct. 6 to allow the export of diesel by pipeline, but kept measures on gasoline exports in place. Overseas supplies of diesel by truck and railway are also prohibited.