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German Oil Product Demand Remains Low: Argus

OIL PRODUCTS

German demand for heating oil, gasoline, and diesel remains below expectations, traders told Argus.

  • German traders reported an uptick in enquiries for heating oil at the beginning of last week, with 12k cu m reported to Argus in the first two days of the week.
  • This compares to the average of 8k cu m in H2 March.
  • Maintenance has begun at Miro’s 310k b/d Karlsruhe refinery, while Bayernoil has ramped up its production at the 215k b/d Neustadt-Vohburg refinery.
  • In western Germany, domestic refinery production is keeping diesel prices at a comparatively low level, making imports via the Rhine look unattractive.
  • The lower prices in the south and west are an indicator of good regional supply and low demand.

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