Russia: oil industry gains traction again and could flood the market with diesel

Russia's oil industry is recovering as Ukraine halts attacks on major refineries, allowing for increased diesel exports. JP Morgan's report highlights that the lack of attacks has enabled Russia to restore its refining capacity, which had been previously disrupted. The cessation of hostilities has led to a significant increase in the potential supply of refined oil products, particularly diesel, which Russia produces more than gasoline. This recovery could impact global oil prices, which have been elevated due to previous supply shortages.