Russia’s energy ministry has “recommended” that the country’s refners increase gasoline production by about 30pc this month and direct product to the domestic market rather than export destinations. The ministry wants domestic gasoline supply to rise faster than demand, to prevent a sharp rise in retail prices as Covid-19 lockdown measures are gradually lifted. Exports accounted for about 20pc of Russian gasoline output in May. The ministry wants Russian refneries to produce more than 3.1mn t this month — close to output of 3.2mn t in June 2019, although it admits that domestic demand could be around 10pc lower than a year earlier.
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