Developing Story
Gulf Diesel Export Shortage
Gulf refined diesel exports remain severely depressed—at roughly a quarter of pre-conflict levels—despite crude oil shipment recovery, keeping global diesel prices near record highs.
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Global diesel prices remain near record highs as Gulf producers struggle to restore refined-fuel exports despite a recovery in crude oil shipments. Net diesel exports from Gulf countries averaged 390,000 barrels per day in August, just over a quarter of pre-war levels before the US-Israel war on Iran, according to IEA data published in September (SCMP, October 12).