Record High: Indian Diesel Exports to Europe Surge in September

In September, India recorded a historic surge in diesel exports bound for Europe, with shipments averaging between 280,000 to 303,000 barrels per day (bpd) — nearly half of the country’s total diesel exports for the month. Analysts attribute this rise to an advantageous east-west arbitrage in diesel futures, prompting traders to redirect shipments. This influx of Indian diesel may bolster Europe’s winter fuel supplies while potentially alleviating pressure on refining margins in Asia. Additionally, the temporary Russian ban on diesel exports may have contributed to the surge, as Russia recently lifted restrictions on most of its diesel exports.