Stubbornly high diesel prices fueling inflation as well as slowing economies are expected to lead to a slight decline in global diesel demand in 2023, the International Energy Agency (IEA) said in its monthly report on Tuesday. Currently, diesel markets are already “exceptionally tight” and will become tighter still when the EU embargo on imports of Russian products by sea enters into force in early 2023, according to the IEA. Even before Russia’s invasion of Ukraine in February this year, diesel markets were already in deficit…
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