Global diesel stocks remain critically low a month after the fuel embargo went into effect, and any pickup in economic activity could deepen the imbalance between supply and demand
Global diesel stocks remain critically low a month after the fuel embargo went into effect. U.S. crude oil exports to Europe are on a strong rise as a replacement for Russian barrels, but fuels production is in decline because of winter storms. There is one thing that has helped both the U.S. and Europe avoid a diesel shortage, and that, ironically, is the economic slowdown. in early February that U.S.
The situation is quite precarious and basically comes down to being stuck between the rock of inflation and the hard place of a recession, which, for some observers, is already a fact and, for others, will be successfully avoided., including in the business world, opinions on the importance of diesel for the U.S. economy, as for any other economy, are necessarily unanimous. And this means that one way or another, a recession is unavoidable.
reveals cautious higher spending plans because of inflation and equally cautious growth plans because of higher borrowing costs. in a row. This is not good news GDP-wise, but through the diesel lens, it’s not that bad either. Signs of a pickup in activity, on the other hand, while a positive development from an economic growth perspective, would lead to higher diesel demand, which would further stock depletion and ultimately contribute to inflation.
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