The catalyst
Russia’s Novak On Diesel Supply Deal With Trump, Says There Are Talks Between Governments Of Russia And U.S. On Supply; We Have Possibility To Make Additional Supplies Of Diesel On Global Markets; Additional Supplies From Russia Will Partia
The thesis
Russia says government talks with the U.S. could enable additional diesel supplies to global markets, with exports potentially reaching 3–3.5 million tons by year-end. Reuters also reports Russia supplied $21.3 billion of energy to the EU this year and that OPEC+ transportation costs have risen significantly.