LatAmOil: Russian gasoline exports to Brazil set to slow, diesel flows steady

Russian gasoline exports to Brazil are likely to decline in coming weeks following Moscow's policy shift, while diesel inventories in the South American country have begun to draw down, industry sources said, S&P Global reported.

Russia's energy ministry announced on August 14 that it would ban gasoline exports from September 1 until year-end, citing domestic supply needs amid strong seasonal demand and refinery maintenance.

Data from S&P Global Commodities at Sea showed about 6.5mn barrels of Russian-origin naphtha in 23 cargoes were shipped or scheduled for Brazil from March through August.

A smaller 1.23mn barrels of gasoline followed the same route.

Brazilian refined product market sources had previously linked weak domestic gasoline prices to an influx of Russian naphtha and gasoline.