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Boosting US oil supplies with Russian diesel unlikely to have much impact on prices, experts say
Energy policy experts say the new supply pact will mostly shift diesel flows and will not substantially lower U.S. or global prices.
- On Friday, President Donald Trump announced a deal with Russian President Vladimir Putin to immediately supply the United States with more than 300,000 tons of diesel, followed by 500,000 tons in November.
- Surging fuel costs have ratcheted up inflation, with the United States national average for diesel hitting nearly $6.28 a gallon on Friday, increasing political pressure on Trump and the Republican Party before the Nov 3 midterm elections.
- Energy experts are skeptical, with Michael Lynch of the Energy Policy Research Foundation comparing the deal to 'shuffling deck chairs on the Titanic,' noting that shifting Russian supply leaves existing customers to find other sources.
- Clayton Seigle of the Center for Strategic and International Studies said the deal benefits Russia by offloading summer-grade diesel before winter, but will not materially lower prices in the United States or Europe.
- Daniel Sternoff of the Columbia Center noted that global prices remain elevated because refining capacity in the Middle East is restricted by ongoing disruptions in the Strait of Hormuz, with refined products barely half of prewar levels.
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·Seoul, Korea (the Republic of)
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Boosting US oil supplies with Russian diesel unlikely to have much impact on prices, experts say – WTOP News
A new pact that calls for Russia to boost the U.S. supply of diesel over the next few months is unlikely to make a dent in painfully high prices at the pump or
·Chevy Chase, United States
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Associated Press News+4 Reposted by 4 other sources
Boosting US oil supplies with Russian diesel unlikely to have much impact on prices, experts say
A new pact that calls for Russia to boost the U.S. supply of diesel over the next few months is unlikely to make a dent in painfully high prices at the pump or elsewhere, energy policy experts say.
·New York, United States
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Total News Sources8
Leaning Left2Leaning Right1Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 25%
C 63%
12%
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