Diesel cracks set to increase
News: As per media sources, Russia has barred the export of diesel and petrol as crude oil prices rise towards $100 a barrel. It is one of the world’s largest suppliers of diesel and a leading producer of crude.
Views: The ban on supply of petroleum products, ahead of the winter months, could potentially lead to improvement in GRMs and could also escalate crude prices beyond US$100 per bbl. Diesel has the highest share in Indian refining slate (~45%). Standalone refiners are set to benefit the most along with competitive Gas players.