Russia, U.S. Discuss Diesel Fuel Supplies, Domestic Market to Be Fully Covered - Novak

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Russian and American companies are already in talks about potential deals for diesel fuel supplies, reports TASS. According to Russian Deputy Prime Minister Alexander Novak, any increase in exports should not create problems for the domestic Russian market, including during the agricultural season.

Novak stated that Russia has the capacity to ramp up diesel exports, with volumes potentially reaching 3.5 million tons per month—a level previously achieved.

He noted that additional Russian fuel supplies could partially stabilize the global energy market. Novak assessed that oil prices have nearly doubled, and increased Russian exports could help balance the market.

The deputy prime minister also highlighted the impact of logistical constraints on raw material costs. A significant portion of the rise in oil prices, he said, is due to increased transportation costs and a shortage of transport vehicles.

Separately, Novak reported on the scale of energy trade between Russia and Europe. Since 2022, European countries have received Russian energy resources worth $320.7 billion. In the first nine months of 2026, the volume of deliveries amounted to $21.3 billion.

Additionally, Novak mentioned that OPEC+ ministers have noted that due to the situation around the Strait of Hormuz, the global market is not receiving between 6 and 7 million barrels of oil and oil products per day.