Goldman Sachs Group said that the operating volume of global refineries this month fell to the lowest seasonal level in the same period since the pandemic, and diesel is at the “epicenter” of a scarce fuel supply situation. Analysts Yulia Zestkova Grigsby and Daan Struyven released a research report on Wednesday saying that refining operating rates have declined due to ongoing clashes, including the shutdown of refineries in Russia and the Middle East. Analysts estimate that global refining and processing volume has decreased by about 6.5 million barrels per day compared to the same period last year. At a time when fuel demand is gradually entering the peak season in the fourth quarter, the slowdown in refining production capacity further tightens fuel supply. Goldman Sachs pointed out that diesel inventories continue to fall below normal seasonal levels, and export volumes continue to decline, making this oil extremely vulnerable to subsequent supply disruptions. Europe's benchmark diesel futures climbed to a nearly three-month high this week.

Goldman Sachs Group said that the operating volume of global refineries this month fell to the lowest seasonal level in the same period since the pandemic, and diesel is at the “epicenter” of a scarce fuel supply situation. Analysts Yulia Zestkova Grigsby and Daan Struyven released a research report on Wednesday saying that refining operating rates have declined due to ongoing clashes, including the shutdown of refineries in Russia and the Middle East. Analysts estimate that global refining and processing volume has decreased by about 6.5 million barrels per day compared to the same period last year. At a time when fuel demand is gradually entering the peak season in the fourth quarter, the slowdown in refining production capacity further tightens fuel supply. Goldman Sachs pointed out that diesel inventories continue to fall below normal seasonal levels, and export volumes continue to decline, making this oil extremely vulnerable to subsequent supply disruptions. Europe's benchmark diesel futures climbed to a nearly three-month high this week.