Reliance Industries boosts diesel shipments to Europe and Brazil as supply tightens

In July, Reliance Industries loaded about 4‑5 million barrels of diesel from its Jamnagar refinery for export to Europe and Brazil, the highest monthly volume in ten months and comparable to levels before the U.S.–Iran war began.

The surge comes as global diesel supplies tighten due to the U.S.–Iran conflict limiting Gulf shipments and Russia’s temporary diesel export ban after Ukrainian drone attacks. European diesel margins hit a record $74 per barrel and inventories fell to their lowest since 2014, prompting India to act as a swing supplier and help fill market gaps.