India s use of crude tankers to export diesel slows in May hydrocarbonprocessing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hydrocarbonprocessing.com Daily Mail and Mail on Sunday newspapers.
Indian refiners use of
crude oil vessels to ship refined fuels such as diesel to key
European markets has diminished in May after volumes neared
two-year high levels last month, trade sources and.
Indian refiners reduce diesel shipments to Europe in May due to rising inventories and weak price spreads. April saw high exports, mostly from Reliance Industries Jamnagar refinery, using Aframax and Suezmax vessels. Cost factors and ample European supply prompt refiners to shift focus back to Asia, exacerbating regional supply glut.
India Crude Oil: While more April shipments from India to Europe provided a floor for Asian margins, fewer such voyages in May will likely compel Indian refiners to shift diesel sales back to Asia, exacerbating a supply glut in the region, analysts and traders said.
India Crude Oil: While more April shipments from India to Europe provided a floor for Asian margins, fewer such voyages in May will likely compel Indian refiners to shift diesel sales back to Asia, exacerbating a supply glut in the region, analysts and traders said.