Russian Crude Exports Boom Blunted by Kremlin’s Diesel Sales Ban
In the four weeks through Sept. 27, Russian overseas crude flows rose to 3.71 million barrels a day, the most since early August, and the four-week average gross value of exports reached $2.39 billion a week, the highest since the period to May 24. The gains are partly offset by a Kremlin ban on overseas sales of most diesel, which averaged about 1 million barrels a day before intensified Ukrainian attacks and is expected to be extended through October. Russia raised its 2026 crude export forecast by about 150,000 barrels a day while cutting its forecast for refined product shipments by about 500,000 barrels a day.
Why it matters: It shows how sanctions and export controls, together with strikes on refining capacity, are redirecting Russia’s energy trade from refined products into crude and reshaping global fuel flows.