Russian Deputy Prime Minister Alexander Novak has instructed oil companies to ensure additional fuel supplies to rapidly meet domestic demand in the regions, according to a statement by the cabinet of ministers following a meeting chaired by Deputy Prime Minister on the situation in the fuel market.
"Alexander Novak instructed oil companies to ensure additional fuel supplies in order to rapidly meet domestic demand in regional markets," the statement reads.
Earlier, Novak instructed the Energy Ministry and companies to develop and present concrete measures to stabilize the fuel situation in a number of the country’s most vulnerable regions. The Deputy PM said that sufficient fuel supplies had been secured to meet domestic market needs, though a surge in panic buying had driven up demand by around 20-30%.
Realigning the system’s logistics to match demand would take some time, he noted, adding that a short-term ban lasting a few months on diesel exports by producers could be implemented to replenish domestic supplies.
