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Asia Diesel Demand Recovery Expected: FGE

OIL PRODUCTS

Asia’s diesel surplus is likely to shrink more than 70% to 250kbpd in October according to consultant FGE in a note on Friday.

  • Asia’s diesel/gasoil demand is expected to increase with regional demand outside China to rise by 100kbpd in Sept. and by another 170kbpd Oct. as South Asia’s monsoon season ends.
  • Diesel cracks are set to recover in winter before shrinking seasonally from March 2023
  • Higher demand for gasoil burning to replace natural gas seen lifting demand by 100kbpd

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