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European Demand for Russian Diesel Rising in November

OIL PRODUCTS

Europe is still rushing to fill diesel supplies with volumes from Russia according to Refinitiv and Vortexa.

  • Russian diesel loadings destined for the Amsterdam-Rotterdam-Antwerp (ARA) storage region rose to 215,000 bpd from Nov. 1 to Nov. 12, up by 126% from October.
  • Diesel from Russia has made up 44% of Europe's total imports of the road fuel so far in November, compared with 39% in October according to Refinitiv.
  • The rush comes as Europe faces difficulties finding alternatives ahead of the Feb 5 EU ban on Russian oil products.
  • Europe is expected to target the US, Middle East and India to replace Russian diesel.

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