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Have India’s imports of Russian crude peaked?
Russia has leapfrogged Mideast sources to become India’s largest supplier, but flows may be poised to plateau
Oil market poised for China showdown
China puts the strategic in SPR as it looks to utilise record oil storage
China pumps record crude despite economic headwinds
Record domestic production and high imports contrast with weak economic growth to raise the question of how much more crude China can store
East Asian LNG demand may not threaten Europe
Risks persist, particularly those related to weather, which could tighten gas availability for Europe
Outages could drive renewed European gas price volatility
Europe is better prepared than last winter, but risks remain
A red flag for security of Russian oil supplies
Internal strife and a prolonged war in Ukraine threaten a precarious balance that has kept oil flowing
Gas jostles for vital role in China’s energy mix
The fuel has lost ground to coal and renewables but is seen as key to balancing needs for energy security with long-term efforts to decarbonise
Letter from Iran: Tehran's dreams and Moscow's deceptions
Russia is making a show of support for Iran as the two nations strengthen their ties, but the promised investment may never materialise
Asia’s NOCs chart paths to decarbonisation
But none of the companies are poised to abandon oil and gas anytime soon
China’s LNG demand blunted for now
Pipeline imports and domestic production gains may limit LNG take, but Russia and Central Asia uncertainty could prompt buying activity
Diesel pricing in Europe
Diesel Europe Hydrogen China Russia
Ahmed Mehdi
5 December 2022
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Where next in Europe’s diesel crisis?

The fate of the continent’s supply crunch may lie elsewhere—in China, the Middle East and Russia

Europe’s diesel deficit has provided the only credible challenger to gas as the centrepiece of the continent’s energy crisis this year. Northwest Europe diesel cracks averaged $9/bl in 2021 and have averaged $40/bl so far this year—an increase of 420pc. But what has been driving the rally? And what is the outlook for European diesel pricing into 2023? Global capacity In a letter to his country’s oil executives this summer, US president Joe Biden warned the tightness in the world’s refining capacity was a “global challenge and global concern”. Biden’s words reflected the fact that c.3.5mn bl/d of distillation capacity had been shut down since the pandemic, resulting in a net decline after new

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