Europe is witnessing a surge in diesel imports from India, a significant buyer of Russian crude. Diesel arrivals are set to reach 305,000 barrels per day, the highest since at least January 2017. While it s uncertain if the molecules originated in Russia, Moscow s crude deliveries have empowered Indian refineries to produce abundant diesel, filling the supply gap created by the European Union s ban on seaborne imports of Russian crude in December.
Europe s imports of diesel from India, one of the biggest buyers of Russian crude, are on course to soar to 305,000 barrels a day, the most since at least January 2017, data from market-intelligence firm Kpler show
Russian crude accounted for nearly 35 per cent of India’s oil imports in October, followed by Iraq with 21 per cent, and Saudi Arabia with an 18 per cent share.
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India’s diesel exports to Europe in September were at around 333,000 barrels per day (bpd), up nearly 47 per cent from August export volumes, and 57 per cent higher on a year-on-year basis, according to Vortexa data.