Global diesel shortage hits 25% of trade
Novak assessed the deficit in the diesel fuel market to be approximately 25% of world trade.
Consensus
- The global diesel fuel market is experiencing a shortage estimated at approximately 25% of international trade.
- The shortage is primarily linked to disruptions in supply from Persian Gulf countries due to escalating tensions in the Middle East.
- Russia has banned diesel fuel exports since July to ensure domestic supply.
- The situation has led to a significant increase in crack spreads, with diesel prices rising to around $200 per barrel.
- Russia previously supplied about 10% of global diesel exports to regions including Asia, Africa, and Latin America.
Points of divergence
- The reduction in shipping through the Strait of Hormuz has become increasingly dangerous due to a critical level of threat, according to British data. — vesti
- Diesel prices have reached approximately $200 per barrel, while crude oil prices are in the range of $100–120 per barrel. — interfax
Coverage (3 sources)
- Novak assessed global diesel fuel shortage — Вести
- Novak assessed the diesel fuel shortage on the market at approximately 25% of world trade — Интерфакс
- Novak stated that the global market is experiencing a diesel shortage of about 25% — Москва 24