India’s diesel exports to Europe touched an all-time high in December, largely due to a recent shift in flows away from the Latin American market, where American refiners are now trying to gain a foothold, as per an analysis of ship tracking data.
The displacement of Russian fuels away from Europe — the major reason that led to the spurt in Indian fuel exports to the continent in the aftermath of the Ukraine invasion — also continues to play a role in the equation.
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