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Focus on Diesel Demand as ECB Cuts Rates: Kpler

OIL PRODUCTS

Following the ECB’s first rate cut since 2019, growth in the EU economy is likely to provide an uplift for diesel and gasoline consumption, according to Kpler.

  • Kpler forecasts a full-year growth rate of 1%, up from 0.5% the previous year.
  • This will help to boost gasoline demand to 2.4m b/d in H2 2024, up 70k b/d.
  • Small improvements across investment late last year alongside rising freight demand will help drive diesel appetite to 6.8m b/d, up 100k b/d.

Source; Kpler

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