Stories
Global Diesel Exports Plunge by 700,000 BPD as Prices Hit Record Highs Amid Supply Crunches
C
CNBC TV18•14-10-2026, 16:18
Global Diesel Exports Plunge by 700,000 BPD as Prices Hit Record Highs Amid Supply Crunches
- •Global diesel exports fell by 700,000 barrels per day year-on-year in September due to lower supplies from Russia and West Asia.
- •Wholesale diesel prices reached record highs of around $220 per barrel in Europe and the United States, remaining nearly double crude oil prices.
- •Global diesel deliveries dropped by 750,000 bpd year-on-year in the third quarter of 2026 as high prices and weaker economic outlooks weighed on consumption.
- •US President Donald Trump announced that Russia would supply over 300,000 tonnes of diesel to the US and global markets after a call with Russian President Vladimir Putin.
- •Washington temporarily eased sanctions on Russian fuel to address surging prices, drawing criticism from Ukrainian President Volodymyr Zelensky and US lawmakers.
Key Questions Answered
Global diesel exports fell due to lower supplies from Russia and West Asia, which dropped by a combined 1.3 million bpd amid prolonged supply disruptions and depleted inventories.
US President Donald Trump announced that Russia would supply over 300,000 tonnes of diesel to the US and global markets, prompting Washington to temporarily ease sanctions on Russian fuel.
Global oil demand is projected to fall by 2.5 million bpd in the fourth quarter of 2026, with a full-year decline to 102.4 million bpd, followed by a partial recovery of 2 million bpd in 2027.
