Posted 4/6/2024, 9:04:00 AM
India's Diesel Exports Drop Sharply to Asia, But Rise to Europe
- India's diesel exports to Asia dropped 63% in March 2023 compared to February, down to 61,000 barrels per day
- Competition from robust diesel exports from China and South Korea diminished India's export margins
- Diesel exports to Europe increased by 6.5% to 214,000 barrels per day in March
- India's monthly diesel shipments to Asia fluctuate between 11,000-189,000 barrels per day based on profit margins
- Global shipping disruptions in January 2023 impacted India's refined product exports, decreasing supplies to Europe and increasing volumes to Asia
