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Saudi, Kuwait Oil Refinery Expansions Set to Ease Diesel Crisis

  • The Middle East is adding the capacity that Europe has lost
  • Energy Aspects sees start-ups easing diesel and LSFO markets

The Middle East could help ease a global diesel-supply crunch as it drives an expansion in refining capacity in the coming year.

Gasoline and diesel prices have surged to records this year in nations including the US and the UK, as oil refiners struggle to make up for the loss of Russian crude and other petroleum products. Europe is reliant on diesel imports and is looking to regions such as the Middle East to replace lower shipments from across the Atlantic.