Russia Mulls Ban On Oil Product Exports To Stabilize Prices

Russia is again reviving the possibility that it could ban all crude oil product exports in order to stabilize volatile fuel prices in the country, according to Russia’s TASS new agency said on Friday. Alternatively, Russia could increase its oil product exports duty to $250 per tonne. This duty will be refunded for those companies that meet their quota for supplying fuel to Russia’s domestic market.  A ban on product exports out of Russia—although temporary—would squeeze Europe’s diesel supplies even more. While…