The price of US soybean oil has fallen in the short term, and the US biodiesel policy is bearish again! The White House's new plan may cut the demand for X billion gallons of biofuels. Will oil futures open lower tomorrow?
On November 7, according to foreign media reports, the Indonesian government has proposed to increase the mandatory blending of palm oil-based biodiesel to 50% by 2028, Edi Wibowo, director of the bioenergy department of the Ministry of Energy and Mineral Resources, said at an industry conference on Thursday. Indonesia currently has 35% mandatory biodiesel blending and is expected to increase this to 40% next year.
Russian Deputy Prime Minister Novak: Russia will not ban diesel exports, with sufficient diesel production and stable market conditions.