Refined product deficits, not crude supply, strain energy market — US Energy Secretary

Refined product deficits, not crude supply, strain energy market — US Energy Secretary Chris Wright pointed out that Russia is currently not exporting any diesel fuelWASHINGTON, September 14. /TASS/. Disruption in the global energy market is driven primarily by a shortage of diesel fuel and other refined petroleum products rather than crude oil supply volumes, US Secretary of Energy Chris Wright said, explicitly linking the tightness to the global impact of Ukrainian strikes on Russian fuel and energy infrastructure. "World oil supplies will continue to grow, and that'll ease some of the pressure on oil prices," Wright predicted at a press conference at the International Atomic Energy Agency (IAEA) headquarters in Vienna. "But the bigger challenge has been on oil refining. This is a tighter market than the oil market, and there's a lot of causes for the tight refining market. But maybe the one I'd highlight the most is the Russia Ukraine conflict," the US Energy Secretary noted. He pointed out that Russia is currently not exporting any diesel fuel. "That [market] is too tight right now. We are working with American refiners to expand their capacity," Wright said. Responding to reporters' questions on September 13, US President Donald Trump effectively demanded that Ukraine halt strikes on Russian oil refineries to prevent further escalation in the global energy market, adding that Washington had already conveyed this position to Kiev. Commenting on Trump's remarks, Kremlin Spokesman Dmitry Peskov noted that "any call for the Kiev regime to cease strikes on civilian economic infrastructure can only be welcomed." On July 30, the Russian government imposed a new temporary ban on exports of gasoline, diesel, and other fuels, running until January 31, 2027. 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