India's diesel exports to Europe surged fourfold in June to 119,400 barrels per day from 24,500 barrels per day in May, driven by better margins in the continent. Despite this, India's overall diesel exports fell 4% to 482,400 barrels per day. Europe received a quarter of India's diesel shipments, while supplies to Asia fell 10%. Overall refined product exports decreased by 5% to 1.19 million barrels per day. Reliance Industries and Nayara Energy are the biggest exporters, earning $29 billion from diesel exports in 2022-23, though revenues dropped to $22 billion in FY24.
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