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IEA warns: Global diesel supply crunch may persist until 2027, refining margins hit record $95/barrel
The International Energy Agency (IEA) has warned that global diesel supply tightness could persist until 2027 due to conflicts in the Middle East and Ukraine. Diesel refining margins have already hit a record $95 per barrel, while Russian and Middle Eastern diesel exports fell by 1.3 million barrels per day in September. The IEA stated that despite plans to release 100 million barrels from emergency reserves, dwindling inventories could still exacerbate price volatility.
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