Global diesel tightness should ease in 2009

The ”tightness” in global diesel supplies may ease early next year after peak winter demand in the northern hemisphere passes and new refineries start, the International Energy Agency said today.

”Both crude and middle distillate markets may see some respite in the second half of 2008, but more likely by early next year,” the IEA said in its monthly Oil Market Report. ”Supplies should increase over the second half of the year and into 2009 as new refining capacity comes on stream in both China and India.”

HoustonChronicle