INDIA'S DIESEL EXPORTS RISE FOURFOLD TO EUROPE, MAKE UP 25% OF INDIA'S DIESEL SHIPMENTS

Diesel exports to Europe surge! In June, India's diesel exports to Europe experienced a significant surge, quadrupling from the previous month as refiners capitalized on the continent's more favorable margins. According to Vortexa, an energy cargo tracker, Indian refiners exported 119,400 barrels per day of diesel to Europe in June, a substantial increase from May's 24,500 barrels per day. Despite this growth, India's overall diesel exports saw a 4% decline, amounting to 482,400 barrels per day.
Indian refiners, primarily Reliance Industries and Rosneft-backed Nayara Energy, cater to both Eastern and Western markets, offering diesel, petrol, and jet fuel. The destination of Indian fuel cargoes is largely determined by demand and price arbitrage in different geographical regions.According to an ET report, Europe emerged as a major recipient of India's diesel shipments, accounting for a quarter of the total exports. Conversely, supplies to Asia experienced a 10% decrease, falling to 107,800 barrels per day in June.
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