India's record-low diesel exports, driven by Red Sea security risks, lead to tighter supplies in Europe ahead of refinery maintenance season.

India's exports of low-sulphur diesel to Europe are expected to reach a record-low in January as Red Sea security risks drive up freight costs. Meanwhile, Pakistan is set to export more rice than ever before in the year ending June, as India's decision to reduce its own shipments has led buyers to purchase more from Pakistan. India's crude oil imports increased in December due to growing demand and lower crude prices, while the record-low diesel exports are anticipated to tighten supplies into Europe ahead of refinery maintenance season.

January 29, 2024
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