September 16, 2022 07:46 GMT
Global diesel liftings setting global records – major refining sectors focused on diesel production.
- Overall oil demand continues to disappoint, led by naphtha, but increasingly also gasoline and jet/kero. As for diesel, Vortexa data sees some strong pockets of surging imports that may be related to actual consumption, i.e. South America or Australia.
- Additionally Vortexa has observed a huge yield shift to diesel, as illustrated by product exports from key refining hubs. Diesel liftings from the US Gulf, Europe, and NE/SE Asia over July and August stood at 6.4mbd, up by close to 1.5mbd or 30% from a low point in Jan/Feb this year. All other product liftings were essentially unchanged.