Worst of Europe’s Diesel Crunch Will Hit in Spring

Wood Mackenzie sees diesel inventories at record low in March
EU to cut off seaborne deliveries of Russian fuel in February

With Russia still by far the EU’s single biggest external supplier of diesel-type fuel by ship, the sharp drop-off in inventories at the end of winter is to be expected. — With Russia still by far the EU’s single biggest external supplier of diesel-type fuel by ship, the sharp drop-off in inventories at the end of winter is to be expected.
Photographer: Krisztian Bocsi/Bloomberg

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By Jack Wittels

November 9, 2022 at 6:00 AM UTC

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Stockpiles of diesel-type fuel in northwest Europe will hit the lowest in at least 12 years at the start of spring, according to a forecast from consultancy Wood Mackenzie Ltd.

Inventories are set to build in December and January, before a sharp drop-off. Stockpiles in March are projected to be the lowest on record for any month in data going back to 2011, Woodmac said.