Global refining shock lifts India’s diesel exports to a 12-month high in September
West Asia conflict and drone attacks on Russia hit 8 mb/d of global refining capacity, say traders
Global refining shock has led to a significant increase in India's diesel exports, reaching a 12-month high in September. The surge in exports is attributed to refinery attacks and geopolitical tensions, which have impacted approximately 10% of the global refining capacity. Transportation bottlenecks have further exacerbated the situation, tightening the market for diesel.
This surge in exports is particularly beneficial for Indian refiners, especially private sector entities like Reliance Industries, as they capitalize on the shortages in international markets. The strong domestic supply and ability to meet global demand have positioned India as a reliable supplier, particularly when traditional exporting regions face refinery outages and logistical disruptions.
Despite the overall attractive refining economics for export-oriented refiners, the benefits are not uniformly distributed across the sector.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
