After falling to a nine-month low in February, India’s petroleum fuel exports–mainly diesel and aviation turbine fuel–to Europe surged to a multi-year high in March as the continent’s demand rose due to refinery disruptions in France and anticipation of lower production during the springtime refinery maintenance season.
India’s refined fuel exports to Europe shot up to an average of 385,547 barrels per day (bpd) in March from 169,196 bpd in February, and 276,068 bpd in January, as per data shared by energy cargo tracker Vortexa.
In the run-up to the European Union’s ban on Russian refined fuels from February 5, Indian refiners, particularly private sector players, rushed to cater to the region.
