Russia Set to Lift Fuel Export Ban, Boosting Oil Supplies

The Russian government has informed fuel producers to prepare for the removal of all remaining restrictions on the export of diesel and gasoline, according to industry sources. Russia, the world's leading seaborne exporter of diesel, implemented a ban on fuel exports in September to address high domestic prices and shortages. While restrictions on diesel exports were eased in October, measures on gasoline exports remained in place. The ban is expected to be lifted next week, with the government citing stabilization of the domestic market as the condition for removal.