When we exercise, our body does two things whether we have diabetes or not
- it becomes more efficient at using insulin
- it thinks we will need extra glucose to provide the energy to maintain the exercise so dumps some from our liver
For those with healthy pancreas (without diabetes), their incredibly clever pancreas would adjust their insulin production to match these exercise effects and they would see little impact on their BG.
For those of us with diabetes the short term impact on BG would depend on the type of exercise, how long we do it and how fir we are (at that type of exercise).
Typically (but not always .. because we are all different), longer cardio exercise with little stress would see a drop in BG whereas resistance, stop-start cardio or cardio with some stress such as cycling uphill against a hot wind, may see a rise in BG in the short term.
However, due to the liver dump, the medium term impact (over the next 24 to 48 hours) is likely to be a reduced BG because we have less glucose in our liver to continuously drip and more of what we eat will go towards restocking these supplies.