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OIL PRODUCTS: Europe Set for Lowest Diesel Imports in 7 Years

OIL PRODUCTS
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Europe is on course for the smallest seaborne diesel imports in seven years, according to Bloomberg.

  • This is just as colder-than-normal winter weather hits part of the continent.
  • Inflows are seen at 797k b/d in Jan, the lowest since Oct. 2017, according to Kpler.
  • Europe’s diesel market has calmed after being buoyed by the new wave of US sanctions on Russia by the outgoing Biden administration.
  • Seaborne imports are seen down 17% from what were already low levels in December.
  • Deliveries from both the US and East of Suez have slumped.
  • Diesel is used in Europe for everything from manufacturing to transport to heating. While EU industrial activity has been lacklustre recently, demand may be supported by parts of the region enduring some of their coldest winter weather in years.
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Source: Bloomberg
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Europe is on course for the smallest seaborne diesel imports in seven years, according to Bloomberg.

  • This is just as colder-than-normal winter weather hits part of the continent.
  • Inflows are seen at 797k b/d in Jan, the lowest since Oct. 2017, according to Kpler.
  • Europe’s diesel market has calmed after being buoyed by the new wave of US sanctions on Russia by the outgoing Biden administration.
  • Seaborne imports are seen down 17% from what were already low levels in December.
  • Deliveries from both the US and East of Suez have slumped.
  • Diesel is used in Europe for everything from manufacturing to transport to heating. While EU industrial activity has been lacklustre recently, demand may be supported by parts of the region enduring some of their coldest winter weather in years.
image
Source: Bloomberg