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Novak estimates global diesel fuel shortage at quarter of market

Understandings between Russian and US presidents on diesel supplies will make it possible to rebalance the global market in part, the Russian deputy PM said

MOSCOW, October 16. /TASS/. The international market is experienced the diesel fuel shortage of about 25%, Russian Deputy Minister Alexander Novak said at the Russian Energy Week 2026 forum.

"The market experiences a huge deficit at present. We estimate the deficit at about 25% of global trade. This is related in the first instance to impossibility of deliveries to international markets from Persian Gulf countries. Russia also banned exports from July for the purpose of saturating its home market with the diesel fuel," Novak said.

Understandings between Russian and US presidents on diesel supplies will make it possible to rebalance the global market in part, the deputy prime minister said. Russia remains one of key players in the global diesel market, he noted. "We traditionally supplied about 10% of international trade," Novak said. Russian export deliveries of diesel fuel may grow to 3.5 mln metric tons monthly by the end of this year, he added.

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