European countries have replaced diesel fuel from Russia with its imports from Saudi Arabia, China and India.
The countries of North-Western Europe have significantly increased their imports of diesel fuel from Saudi Arabia, China, India and South Korea. This allows them to replace supplies from Russia, the US Department of Energy said.
It is noted that a significant part of diesel fuel is supplied from Russia by sea. In total, the import volume reached 53%.
After the introduction of sanctions in February this year, the supply of diesel fuel dropped to 2%. Against this background, supplies to countries in the Middle East and Asia increased.
Between October 2021 and September 2022, Saudi Arabia supplied an average of 68,000 b/d. As of February 2023, the kingdom was exporting 202,000 barrels per day.
India increased deliveries over the same period from 110,000 b/d to 161,000 b/d in February 2023. The United States (107,000 b/d), South Korea (45,000 b/d) and China (119,000 b/d) has also increased significantly.
The department clarified that Europe currently needs to buy diesel fuel in remote regions. The current market situation may lead to price fluctuations.
Earlier it was reported that the sanctions and a warm winter weakened the demand for Russian diesel fuel, so a large amount of it was stuck in ships at sea.
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Source: korrespondent
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