Exporters find solace in Africa, Australia as Asia and Europe spoil diesel party

Indian refiners are shifting their diesel exports from Europe and Asia to Africa and Australia due to over-supply and competitive pressure in Europe. In July, diesel exports to Europe and Asia fell by 18% and 21%, respectively, while exports to Africa and Australia increased by 83% and 28%. Overall diesel exports from India rose by 7% to 533,000 barrels per day.