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EU & UK Diesel Arrivals 38% Down y/y

OIL

Europe is still struggling to scale up diesel imports after the Russian oil product ban was implemented February 5.

  • Diesel and gasoil arrivals into the EU and the UK slipped marginally on a monthly basis to about 1.06 mn bpd during the first 10 days of October, 38,000 bpd down on August’s pace but 38% below year ago levels according to Vortexa data compiled by Bloomberg.
  • Saudi, the US and India have emerged as top suppliers for the region post Feb 5.
  • Looking ahead, American diesel inflows are expected to increase in the coming weeks due to higher levels of shipments from the US Gulf in recent days.
  • Meanwhile, Middle East refinery maintenance is likely to hamper flows from the East.




source: Vortexa/Bloomberg

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