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Middle East Diesel Flows to Europe Increase Ahead of Winter Without Russia

OIL PRODUCTS
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Middle East diesel exports towards Europe are rising according to Platts vessel tracking as demand increases to prepare for winter without Russian flows.

  • Exports in August rose to 420,000 bpd from 353,000 bpd in July. Saudi Arabia remains the main supplier.
  • Diesel and gasoil exports from the Middle East to Europe are expected to average 598,000 bpd in Q4 2023, compared with 557,000 bpd in Q3 and 485,000 bpd in Q2 according to Platts forecasting.
  • High European prices and strong refinery maintenance in the region are expected to increase barrels on the journey.
  • Diesel and gasoil stocks in the Amsterdam-Rotterdam-Antwerp refining hub hit an eight-month low of 1.857 million mt as of August 31, falling for the fourth consecutive week before rebounding to 1.921 million b/d as of September 7, according to Insights Global data.

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Middle East diesel exports towards Europe are rising according to Platts vessel tracking as demand increases to prepare for winter without Russian flows.

  • Exports in August rose to 420,000 bpd from 353,000 bpd in July. Saudi Arabia remains the main supplier.
  • Diesel and gasoil exports from the Middle East to Europe are expected to average 598,000 bpd in Q4 2023, compared with 557,000 bpd in Q3 and 485,000 bpd in Q2 according to Platts forecasting.
  • High European prices and strong refinery maintenance in the region are expected to increase barrels on the journey.
  • Diesel and gasoil stocks in the Amsterdam-Rotterdam-Antwerp refining hub hit an eight-month low of 1.857 million mt as of August 31, falling for the fourth consecutive week before rebounding to 1.921 million b/d as of September 7, according to Insights Global data.

Keep reading...Show less