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European Gasoline Heads for North America in May

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The trend for prompt European gasoline towards the North American market looks set to continue with volumes directed towards PADD 1 rising this month according to Vortexa mid-month data.

  • A pickup in European demand into summer along with US Atlantic Coast demand looks supportive for European refiners, though the potential for volumes out of Nigeria’s Dangote to emerge could add pressure.
  • Dangote is expected to begin producing gasoline in around June according to Argus.
  • Total gasoline production is expected to reach 360kbd eventually which is set to make a potentially large dent to its need for European gasoline imports and create wider Atlantic Basin availability.

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The trend for prompt European gasoline towards the North American market looks set to continue with volumes directed towards PADD 1 rising this month according to Vortexa mid-month data.

  • A pickup in European demand into summer along with US Atlantic Coast demand looks supportive for European refiners, though the potential for volumes out of Nigeria’s Dangote to emerge could add pressure.
  • Dangote is expected to begin producing gasoline in around June according to Argus.
  • Total gasoline production is expected to reach 360kbd eventually which is set to make a potentially large dent to its need for European gasoline imports and create wider Atlantic Basin availability.

Keep reading...Show less