Diesel Shortage - April 12

[dan_s]

This is a big deal. This world runs on diesel.

From OilPrice.com

- Whilst Asia’s tight inventories might be alleviated in the long run by China’s lockdowns, US diesel inventories continue to plummet despite being at 4-year lows already, leaving only India and the Middle East as potential sources of incremental diesel supply.

- Whilst Russian diesel exports did drop some 100,000 b/d month-on-month in March, trending around 650,000 b/d, outflows are still largely uninterrupted compared to the expectations.

- Nevertheless, diesel stocks in NW Europe remain depressed, roughly half of what they were this time of the year in 2021 and might continue declining amidst refinery maintenance in the region.