China is seeing a demand recovery in infrastructure and manufacturing sectors. Countries, like South Korea and Japan, have also placed quotes for importing petroleum products from India amid lockdown
India, the world's third-biggest oil importer and consumer, has set an April 1, 2020 deadline to migrate to Euro VI-compliant fuels to cut its carbon emissions
Diesel cracks that had strengthened in anticipation of new marine fuel norms from January 2020 have eased since the start of September
Five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since the start of 2017
The exports are expected to continue until year-end, likely weighing on low-sulphur cash differentials, the sources said
Increase in shipments from India has driven the profit margin for refining diesel in Asia to a seasonal 6-year low