Tagged Posts for Diesel
OPEC+ Production August Increase Covered by Current Production
On July 5, the eight members of OPEC+—the grouping of the Organization of the Petroleum Exporting Countries (OPEC) and ten other oil exporters—that agreed last December to an additional voluntary cut of 2.2 million barrels/day over a two-year period, announced the final stage of the unwinding of these cuts one year ahead of schedule by agreeing to a production increase of 548,000 b/d effective Aug 1. Read More
Insolvent UK Lindsey Refinery Continues to Operate but Closure Looms
The U.K. government confirmed that it is funding operations at the 113,000 b/d Lindsey refinery for the time being while it assesses options for the future of the site after owners Prax Group filed for insolvency. Read More
European Diesel Margins Soar After Imports Dropped in June
The European diesel market is flashing warning lights after supplies from the Middle East plunged to multi-month lows in June. Read More
Freight Rates for Transatlantic Voyages Soar as Europe Pulls More US Diesel
Freight rates for MR tankers hauling U.S. diesel to Europe have tripled in two weeks amid supply concerns due to the escalating Iran-Israel conflict. Read More