Record diesel cracks have fostered supplies, visible in strong exports from Asia, the Middle East and the US. Also Russian diesel exports to Europe are stable at a high level. Accordingly markets are cooling and the focus shifts to gasoline and crude.
As the global diesel shortage rises, the world looks to Asia's spare refining capacity for additional supplies. In this insight, we assess how much relief Asia can realistically offer in the near-term.
In this insight we examine the diverging trends in the flows of Russia's flagship crude grade Urals, when loaded in the Baltics versus Black Sea.
The Omicron variant is sweeping through Asia fast and furious. How much impact has it had on Asia's oil demand so far?
Surging diesel prices have been at the forefront of market news in recent weeks. Can clean tanker markets benefit from this pricing trend?
China’s contribution to crude tonne-miles has dwindled year-to-date according to Vortexa freight data as the country continues to decrease crude imports. Other nations have stepped in to fill the void as our data shows.
As global diesel loadings rise amid lagging demand, we explore how the supportive factors in the physical diesel market are not enough to withstand the pressure of a product in oversupply.
Declining volumes towards the Far East limits tanker demand, but long-haul voyages to India keep VLCC and Suezmax tanker utilisation in balance.
Vortexa data shows at least 12mn bbl of crude has been delayed in discharging into key ports along India’s west coast, following the arrival of Cyclone Tauktae.
Vortexa outlines how global crude imports show a slow recovery for refiners.
Asia’s growing naphtha demand has outpaced arbitrage supplies in December, but higher exports from key suppliers should cap further upsides on naphtha cracks.
Australia’s refining sector has been dealt another blow by BP’s recent announcement to shut its Kwinana refinery in Western Australia, and convert it into an import terminal by early next year.
Australia’s Lytton and Geelong refineries are being threatened with permanent shutdown as the compounding impact of the pandemic on oil demand drags on. We postulate the changes on crude and refined products flows if the refineries shut.
Diesel exports from Indian public sector undertaking (PSU) refiners were observed at multi-year highs in October, Vortexa data show.