China's diesel exports rose for a second month in December, while gasoline exports climbed for a third month, as the country's COVID outbreak limited domestic fuel demand, and refiners utilized their expanded yearly export quotas.
Tunisia imported record volumes of Russian gasoil and diesel last month as an EU embargo forced Moscow to find new customers for its oil products.
German Transport Minister Volker Wissing called into question a bid by the European Union to ban new cars with internal combustion engines from 2035, saying the use of synthetic fuels should remain possible after the deadline.
Brazil's state-run oil giant Petrobras said it will reduce gasoline and diesel prices at its refineries from Wednesday, a move that will likely offset the resumption of federal taxes levied on fuels.
Russia's revenues from oil and gas exports dropped by nearly 40% in January as price caps and Western sanctions squeezed the proceeds from Moscow's most lucrative export, the International Energy Agency said on Tuesday.
The only petroleum refinery in Colorado shut down in late December after sustaining damage from extremely cold weather, which may tighten gasoline and diesel fuel supplies in the region.
U.S. crude oil inventories rose for the ninth week in a row, surging to their most since May 2021, as refiners ran less oil during a strong maintenance season.
Kuwait is set to ramp up refined oil product exports from its new Al Zour refinery in the second half of 2023 to plug Russian shortfalls in Europe and meet growing demand in Asia and Africa.
India's Hindustan Petroleum Corp (HPCL) plans to start its 9-MMtpy Barmer refinery and petrochemical project in Rajasthan state by January 2024.
U.S. diesel prices have dropped this month and could go lower, analysts said, an unexpected swoon that coincided with the start of a British and European Union ban on Russian fuel imports.