As new refining capacity is put into operation, India's diesel exports will increase next year, bringing much-needed supply to fuel-scarce markets such as the US and Europe. India's oil minister Hardeep Singh Puri said on Tuesday that by building new refineries and expanding existing installations, state-owned refiners will increase annual diesel production capacity by at least 15 million tons. On the sidelines of an industry conference in Goa, he told reporters: “We will be in a favorable situation, not only to meet domestic refining needs, but also to supply the world.” This market turmoil has brought opportunities to India. India is originally one of the world's major suppliers of diesel. Diesel is the core fuel that supports agriculture, factories, and heavy transportation. According to Kpler data, India has surpassed Russia this year to become the world's second-largest diesel exporter. Goldman Sachs expects the tight global diesel supply situation to continue until 2027, and this refinery expansion will further increase India's share in the global fuel market.

As new refining capacity is put into operation, India's diesel exports will increase next year, bringing much-needed supply to fuel-scarce markets such as the US and Europe. India's oil minister Hardeep Singh Puri said on Tuesday that by building new refineries and expanding existing installations, state-owned refiners will increase annual diesel production capacity by at least 15 million tons. On the sidelines of an industry conference in Goa, he told reporters: “We will be in a favorable situation, not only to meet domestic refining needs, but also to supply the world.” This market turmoil has brought opportunities to India. India is originally one of the world's major suppliers of diesel. Diesel is the core fuel that supports agriculture, factories, and heavy transportation. According to Kpler data, India has surpassed Russia this year to become the world's second-largest diesel exporter. Goldman Sachs expects the tight global diesel supply situation to continue until 2027, and this refinery expansion will further increase India's share in the global fuel market.