The International Energy Agency reports that Russia increased crude oil production and fuel exports rebounded in October.

(1) The International Energy Agency stated that Russia's crude oil production in October increased by 210,000 barrels per day compared to September, reaching 8.73 million barrels per day; its fuel exports also rebounded after reaching a diesel agreement with U.S. President Trump. (2) According to the International Energy Agency, last month Russia's oil product exports increased by 260,000 barrels per day compared to September, reaching 1.49 million barrels per day, the highest level since June, with the shipment volume of straight-run diesel doubling to 270,000 barrels per day. (3) After President Putin and President Trump agreed to increase supply to the global market, Russia partially relaxed its diesel export restrictions on October 10. (4) The International Energy Agency, citing data from commodity analytics company Kpler, reported that Russia's diesel and straight-run diesel loadings in October reached 1.13 million metric tons, significantly higher than the pledged 300,000 tons (2.25 million barrels), including 240,000 tons shipped to Turkey and 160,000 tons shipped to Brazil. (5) However, so far, no Russian diesel cargoes have arrived in the United States.