New Delhi: India’s diesel exports to Europe probably hit an all-time high in September, data from shiptrackers and trade sources showed on Thursday, as traders cashed in on robust profits in the west during a refinery maintenance season.
September volumes from Asia’s key swing supplier bound for Europe were at 1.3 million to 1.4 million metric tons (9.7 million to 10.4 million barrels), data from LSEG, Kpler and two trade sources showed.
Shiptracking data showed India’s exports to Europe reached these levels for the first time since such figures began to be recorded in 2017.
Volumes have hit an all-time high as stronger diesel east-price spreads push sellers to pivot their cargoes West to cash in on margins amid a heavy refinery maintenance West.
India’s refiners, which source about a