Increased flows from the Middle East and the US offset a fall in Russian imports after the February ban.
The European Union has successfully compensated for the volume of deliveries of diesel fuel from Russia after the imposition of a seaborne import ban in February. This was reported by Bloomberg on May 25.
It was noted that earlier the Russian Federation often provided more than half of diesel imports to the EU and the UK.
“Failure to find an alternative threatens the availability of the fuel, which is used in everything from industry to freight and road transport. But supplies from other countries have risen sharply,” Bloomberg wrote.
According to analyst firm Vortexa Ltd, total diesel and gas oil revenues will rise to a four-month high of 1.25 million barrels per day in May.
“Except for the period before the import ban begins, when countries are preparing for it, May’s cargo flows are in line with average volumes in 2022 and have increased year-on-year,” the agency said.
It is noted that now the supply of diesel from the Middle East and the United States is increasing. Flows from Saudi Arabia are expected to reach a new high of around 324,000 barrels per day, while flows from the US are the highest since August 2020.
At the same time, shipments from Asia will decline this month due to lower flows from China and Singapore, but diesel shipments from India should increase.
It will be recalled that on February 5, EU countries stopped importing Russian oil products, and also set a “price ceiling” at $100 per barrel for diesel and $45 per barrel for fuel oil.
Source: korrespondent
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