Russian oil firms may cut exports during repairs

Russia’s top oil firms have pledged to cut exports of refined products or build up stocks during refinery repairs if there is a risk of a domestic market shortage, the anti-monopoly service said on Wednesday.

“We wanted some clarifications as to what firms will do during repairs. They pledged to meet domestic market needs, including by cutting exports if needed,” the head of the regulator’s energy department, Alexander Pirozhenko, said.