The 'Russian' diesel is not Russian. Russia is importing diesel on net itself and export is still prohibited, it's either coming from Iran or Kazakhstan.Diesel prices will not change at all. The released diesel will likely be a blip. We'll see what happens next.
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Irrespective of the source, the amount supplied by the Russians to the American market is less than a week's worth of supply. It would amount to 14 odd hours of straight consumption as I read somewhere.The 'Russian' diesel is not Russian. Russia is importing diesel on net itself and export is still prohibited, it's either coming from Iran or Kazakhstan.
And the US is still a net exporter of diesel anyway. So if they really wanted to ease pressure on the US market they could restrict exports more severely and have a much larger effect. They in fact produce 40% more than they consume.Irrespective of the source, the amount supplied by the Russians to the American market is less than a week's worth of supply. It would amount to 14 odd hours of straight consumption as I read somewhere.
The United States is a diesel superpower. It is one of the world’s largest producers and exporters of diesel fuel. U.S. refineries produce about 5.2 million barrels of diesel a day. Americans consume about 3.7 million barrels a day. The surplus is sold abroad: In recent months exports have run above 1.5 million barrels a day.