China Could Ease Europe’s Diesel Shortage

The tight European diesel market is set to become even tighter early next year when the EU ban on Russian seaborne oil product exports is planned to kick in. Among other energy product shortages this coming winter, the EU will have to contend with no supply of diesel from Russia—still a major supplier of diesel to Europe—if the bloc follows through with its plans for an embargo on all Russian oil shipped by sea as of early February 2023.  The embargo is set to upend global oil product trade flows once again, made worse by an even…