Reuters reported an increase in the loading of storage facilities in the EU with Russian diesel fuel
Photo is illustrative in nature. From open sources.
Analytical companies recorded an increase in the loading of storage facilities with diesel fuel from RUSSIA in November compared to October.The ban on the import of Russian oil products into the EU will come into force in February
European traders are actively filling tanks with Russian diesel fuel until the embargo on oil products from Russia comes into force, REUTERS writes citing analysts. it will take effect February 5th.
According to Pamela Manger, Senior Analyst at Vortexa, loading of Russian diesel fuel for storage facilities in the Amsterdam-Rotterdam-Antwerp region in the first 12 days of November was 126% more than in October, and amounted to 215,000 barrels. per day. Refinitiv data showed that in November diesel fuel from Russia accounted for 44% of total fuel imports to Europe, while in October its share was at the level of 39%.
The agency also noted that the increase in downloads may be due to the restrictions of the ICE Futures Europe exchange on trading in oil products from Russia, which will come into force on November 30.
BLOOMBERG learned about record deliveries of fuel from Russia to the Middle East Politics
As the agency points out, despite reducing Europe's dependence on Russian fuel, Russia remains the region's largest supplier, since there are few cost-effective alternatives to it.
FGE analyst Eugene Lindell indicated that the EU would need about 500,000-600,000 barrels per barrel to replace diesel supplies from Russia. per day, which will go from the usa , from the Middle East and from India.
Since June, the EU has imposed an embargo on Russian oil , the ban provides for a transitional period for oil until December 2022, for oil products - until February 2023.
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