Global Diesel Supply Crunch Is Set to Last Through Winter

Global diesel fuel supply will remain tight into next year for lack of enough refining capacity to pick up the slack from Middle Eastern and Russian facilities, Reuters has reported, citing refining and commodity trading industry executives.

“There's really a shortage of products because we're missing 2 million barrels a day from Russia, and we're missing nearly 2 million barrels a day from the Middle East,” said Russell Hardy, chief executive of Vitol, speaking at the Asia-Pacific Petroleum Conference.