Europe’s Role in Transportation Markets Shrinking

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Europe’s Role in Transportation Markets Diminishing

Over the next year, Europe will import less gasoil while exporting smaller sized volumes of gas, according to ESAI Energy’s newest International Fuels Outlook. In this publication, ESAI Energy analyst Ian Page points out that “this decrease in European diesel imports and gas exports will have a major effect on global trade flows in 2019.”

Since the FSU and Middle East, which are on track to export over 1 million b/d of diesel to Europe this year, will have more to export next year, competitors to put excess barrels in a shrinking European market will end up being more intense. On the other hand, Europe’s exportable fuel surplus will keep diminishing due to a combination of falling regional supply, resurgent need, shrinking import requirements in export markets, and competition from other manufacturers. The Middle Eastern gasoline market, which has actually counted on imports greatly to meet demand, will become more self-sufficient, and European fuel will be backed out of Asian and Latin American markets. ESAI

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