MOSCOW, October 2. /TASS/. The Russian diesel fuel market is now balanced and Russia will authorize its exports in part in case of overproduction, Deputy Prime Minister Alexander Novak said.
"I can say we have the market balanced now for the diesel fuel; there is enough fuel. Although we have just recently renewed the export ban for October, we will monitor the situation and in case of diesel overproduction, we will consider partial opening of exports," he said.
Russia will not accumulate too much fuel because it will lead to a decline in refining and output of other products, Novak said. "It is a normal situation because since we produce 80% more diesel than consume in the domestic market, we support the domestic market and cannot accumulate more surplus than available tankage. Otherwise refining volumes have to be lowered, and this may adversely affect the output of other products enjoying demand," he added.
