Diesel exports from the Middle East to Europe are nearing their lowest level in September 2026. This decline in exports is influenced by ongoing tensions in the Strait of Hormuz and escalating conflicts between the United States and Iran. The Sultanate of Oman, by leveraging its geographical position and distance from the Strait of Hormuz, is recognized as one of the leaders in diesel exports in the region.
Export Status and Global Prices
According to available data, diesel exports from the Middle East to Europe have decreased to 110,000 barrels per day as of September 21, down significantly from 191,000 barrels per day in August. This decline marks one of the lowest levels of diesel exports from the Middle East to Europe since February 2020. The Sultanate of Oman has managed to establish itself as the largest diesel supplier in the region by taking advantage of this situation. The country utilizes its ports, such as Sohar Port and Duqm Port, to use longer and safer routes for diesel exports.
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Consequences of the Diesel Crisis in Europe
The diesel crisis in Europe has been exacerbated by a severe reduction in supply and rising prices. While the price of low-sulfur diesel reached $1,536 per ton on September 18, this figure is more than double the prices before the onset of the crisis. Analyses indicate that prices have increased by an average of 59% globally. This situation has imposed additional costs on importers amounting to approximately $73.8 billion.
The pressure on the diesel market in Europe has led the United States to become the largest supplier to the continent. In this context, the Sultanate of Oman has managed to secure a prominent position in meeting the needs of the European market with its export strategy. This situation reflects Oman's ability to capitalize on global crises and its impact on regional markets.
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