The diesel market is facing a crisis as output curbs from countries like Saudi Arabia and Russia limit the supply of medium and heavy crudes, crucial for diesel production.

Russian crude oil exports continue at high levels with no significant evidence of output cuts, raising concerns among OPEC+ partners.

Dubbed a “shadow fleet” the crude oil vessels are quietly transporting the EU-banned Russian product.

Singapore is expected to be blending Russian fuel and reexporting the shipments, a method that can hide the cargo’s origin in a world filled with Russian sanctions.

The United States should make up the vast majority of non-OPEC oil growth as the country’s oil drillers work overtime.

In a breach that eclipsed the early 2020 surge, soaring shipping costs reached $100,000 a day this week on the industry’s benchmark trade route.