This is positive for Indian refiners as almost 45% of their product slate is diesel. Diesel cracks have risen to $30 per barrel, up from $13-18 a year ago, while benchmark Singapore GRMs are at over $15 per barrel. Global diesel inventories are at a 10-year low and Chinese exports, a significant supply in Asia, were down 85% in the January-February period from a year earlier.from Commodities-Markets-Economic Times
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