Posted 11/4/2023, 8:30:00 AM
Plunging Diesel and Naphtha Demand in Europe Signals Economic Woes, While China Sees Growth
- Diesel and naphtha consumption plunging in Europe this year, indicating weak economic growth
- Naphtha demand in Europe to hit 48-year low in 2022 as petrochemical sector suffers
- Lower manufacturing activity and goods transport cutting diesel usage across top 5 EU economies
- China bucks the trend with booming diesel and naphtha demand amid petrochemical investments
- Outlook remains weak for both fuels in Europe in 2024 as structural shifts like EVs also hit