MOSCOW, October 19. /TASS/. A diesel deal between Russia and the United States could help partially alleviate the current global diesel shortage of approximately 1 million barrels per day (bpd), according to a report by Andrey Polishchuk, senior oil, gas, and transport analyst at Euler. TASS has reviewed a copy of the document.
"Lower refinery utilization in several regions is constraining the global supply of petroleum products, while rising crude and freight costs are squeezing refining margins, forcing some facilities to cut output," the report said. "A diesel deal between Russia and the US could help partially reduce the current global diesel shortage, estimated at around 1 million bpd by vessel-tracking services."
According to Polishchuk, maintenance and emergency shutdowns at US refineries are limiting oil product output amid global market shortages. "The decline in US refinery utilization was driven by emergency shutdowns at some facilities and scheduled maintenance at others," he noted. The analyst added that utilization rates, which hit a 25-year high (averaging 93.6% over the first nine months of 2026), have placed increased strain on equipment, maintaining risks of unscheduled shutdowns in the coming months.
The document further notes that the month-on-month decline of 2.8% in US refinery utilization in September will prevent gasoline inventories from recovering before the end of the year. According to the analyst, US commercial gasoline inventories are 5.1% below the average level for the same date during the 2020-2025 period, while distillate stocks are 18.7% lower.
On October 9, Russian President Vladimir Putin and US President Donald Trump held a phone call to discuss petroleum product supplies, among other issues. Putin stated that Moscow reaffirmed its readiness to supply oil and refined products to both the US and global markets.
Deputy Prime Minister Alexander Novak previously told TASS that Russia was lifting its diesel export ban ahead of schedule, standing ready to supply 300,000 tons in October, 500,000 tons in November, and 1 million tons in December, with a view to eventually boosting this volume to 3 million tons per month.
The Washington administration is exempting shipments of Russian diesel fuel to global markets from US sanctions until April 7, 2027.
