Europe receives first Mexican diesel in seven years
Reports indicate that Europe has imported diesel shipments from Mexico for the first time in seven years, due to supply shortages and rising prices in the region. With Russian deliveries halted and trade with Iran disrupted, Europe turned to Mexican shipments, with Pemex (Mexico's state oil company) sending around 300,000 barrels to Spain in August, and shipments reaching Italy in July and France in April. This occurs amidst steep increases in diesel prices since the beginning of the year, with diesel prices in New York more than doubling, making Mexican shipments more attractive despite the last diesel exports to European standards having been in 2019.
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