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OIL PRODUCTS: India Oil Product Exports to Highest Since March 2022

OIL PRODUCTS
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India’s clean oil-product exports rose to the highest since March 2022 driven by a spike in overseas demand amid refinery shutdowns in Europe, according to Bloomberg citing Kpler data. 

  • Shipments of diesel, gasoline and jet fuel rose about 39% y/y to 1.5mb/d in September. Oil product exports to Africa reached a record 380kbp/d.
  • European supplies and exports to Africa have been curtailed due to a cut in processing last month amid refinery maintenance and poor margins.
  • “The open diesel arbitrage to Europe has been driven by lower supplies due to the region’s planned and unplanned refinery maintenance,” said Serena Huang at Vortexa.

 

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India’s clean oil-product exports rose to the highest since March 2022 driven by a spike in overseas demand amid refinery shutdowns in Europe, according to Bloomberg citing Kpler data. 

  • Shipments of diesel, gasoline and jet fuel rose about 39% y/y to 1.5mb/d in September. Oil product exports to Africa reached a record 380kbp/d.
  • European supplies and exports to Africa have been curtailed due to a cut in processing last month amid refinery maintenance and poor margins.
  • “The open diesel arbitrage to Europe has been driven by lower supplies due to the region’s planned and unplanned refinery maintenance,” said Serena Huang at Vortexa.

 

Keep reading...Show less