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Russian Diesel to Europe Slipping in October

OIL PRODUCTS

Russian diesel continues to lose market share in Europe ahead of the February 5 ban.

  • •Russian diesel and gasoil imports into Europe are down from 41.5% in September to 35.6% so far in October according to Vortexa.
  • •From January through September 2022, Russia's contribution was 55% on average.
  • •Middle Eastern and Asian countries are providing replacement barrels (mainly India).
  • •Europe remains tight for diesel supplies which have recently driven cracks to record highs on both sides of the Atlantic.

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