Russia Raises Diesel Output After US Fuel Deal

Russian refiners increased diesel production in October after Moscow issued export quotas to accommodate a fuel-supply agreement with the United States, announced by President Donald Trump and Russian President Vladimir Putin. Production had fallen to about 160,000 metric tons per day in the first half of October from 175,000 in September, then rose toward 180,000 after quotas were introduced. With domestic consumption typically dropping to around 140,000 tons per day in October, sources estimate that more than 1 million tons a month could be available for export, although some would go to neighboring countries. Moscow is expected to retain its formal export ban and manage overseas shipments through quotas that can be adjusted to domestic needs and refinery output. Trump said Russia would supply an initial 300,000-plus tons, with additional shipments planned, while the United States temporarily eased sanctions to permit the fuel trade.