A Dearth Of Diesel

October 13, 2023

European inventories are unusually low at start of winter

In prior years, Russia was the largest supplier of diesel to Europe, but after sanctions were imposed on Russia because of the invasion of Ukraine, they have been scrambling to find new suppliers.  In this month’s Oil Market Report, the IEA highlights the relatively low diesel and gasoil inventory levels in Europe as a result of this and due to lower local production of these products.

This week we will take a look at what this might mean for the product tanker market.

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