True costs of EU’s Russian diesel ban emerge one year later
James Noel-Beswick from Sparta said the EU ban on crude oil imports impacts diesel production at European refineries. This is because Russian crude has been replaced with other crude types that yield lower middle distillate output.
OPIS Blog, February 1, 2024 – James Noel-Beswick from Sparta highlighted that the EU ban on crude oil imports affects diesel production at European refineries because the replacement of Russian crude with other types yields less middle distillate. He also noted that Europe’s increased dependence on Asian diesel and jet fuel via the Suez Canal has made European fuel prices more sensitive to disruptions in the Red Sea.
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