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Inventories: Diesel Stocks Bulk in Europe Ahead of Russian Ban

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Commercial diesel inventories in Europe were bulking up ahead of the European Union’s Feb. 5 ban on Russian product imports. Consultant Insight Global saw gasoil inventories in the Amsterdam-Rotterdam-Antwerp region grow to 16.5 million barrels by Jan. 19, the highest level since June 2021. Rising stocks are the result of early replacement imports from the Mideast, US and other places, while the EU still bought 540,000 barrels per day of Russian gasoil in the first half of January, just below the 575,000 b/d average of the second half of 2022. Rising commercial diesel stocks help Europe to bridge any supply gap from the ban.

Topics:
Oil Inventories, Oil Trade, Diesel/Gasoil, Oil Products, Crude Oil
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