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Gasoil Shipments from China to Belgium Increase

OIL PRODUCTS

Shipments of gasoil from China to Belgium rose 52% m/m in December according to customs data.

  • China shipped 242k tons of diesel to Belgium in December compared to 160k tons in November. The supply is at a record high based on data back to 2011.
  • Flows to Belgium have been rising since Sep 2022 after China issued high product export quotas late last year.
  • Europe is looking for alternative sources of diesel to cover missing Russian supply and build stock levels ahead of the the EU ban in a couple of weeks.

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