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The worsening diesel supply crisis in Europe has forced the continent to import shipments from Mexico for the first time in seven years, with Pemex exporting approximately 300,000 barrels of low-sulfur diesel to Spain in August 2026. This reflects the urgent needs of the European market due to refinery disruptions caused by the war in the Middle East and decreased Russian supplies, leading to an increase in diesel prices in Europe by nearly 70% since the start of the conflict, and doubling in New York since the beginning of the year. There are also pressures on global refining capacity and a shortage of inventories. The global market has experienced increasing strain from refinery disruptions in Russia and the Middle East, alongside heightened U.S. oil exports aimed at compensating for the shortfall, which has drained global stocks and driven up costs.
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