Reported about 1 month ago
The diesel markets in China and India, which constitute the majority of Asian demand, are experiencing a downturn that could affect crude oil prices. China, the largest oil importer, is witnessing a more than 10% decline in diesel consumption this year, while India's growth has slowed significantly. Profits for refiners in the region have plummeted over 40% since January, impacting the fuel's role as a crucial energy source for various industries. Similar trends are also observed in Europe where diesel futures have hit their lowest since mid-2023.
Source: YAHOO