There has not been a decline in diesel flows from Russia to Europe so far
Europe yet to give up Russian diesel
The continent is loath to tackle its dependence upon imports of Russian refined products
The crack spread—the theoretical margin between buying crude and selling the refined product—for European diesel is at record highs. While this would not at first glance be a surprise, given the continent has been highly dependent on Russian supply, the physical diesel balances remain healthier for now than the record cracks would indicate, says Pamela Munger, senior analyst at energy analytics firm Vortexa. There has not been a decline in diesel flows from Russia to Europe so far, and Europe remains well-supplied, Munger continues. Russian loadings of diesel heading for Europe shot up in late February and then into March, before dipping slightly to levels comparable to the start of the year
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
