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Russian Diesel at Sea Surges

OIL PRODUCTS

24 million barrels of Russian diesel-type fuel is being held in vessels’ storage tanks according to Kpler – a record level.

  • The most popular destination being signalled is ‘unknown’, leaving at a pace of 1.5mn bpd.
  • Russian diesel vessels are travelling longer distances to get product to market after EU sanctions kicked in Feb 5 creating higher volumes on the water.
  • Alternative destinations for Russian diesel from the Baltic have emerged including Brazil, Morocco and Saudi Arabia.
  • About 1.7 million barrels, or about 7% of the total, is classed as floating storage by Kpler.






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