Europe imports diesel from Mexico for first time in seven years as supply crisis deepens

Europe’s diesel market is stretched so thin that the continent is now pulling imports from Mexico for the first time in seven years. The move underscores just how dramatically the Iran conflict and the ongoing embargo on Russian energy have reshuffled global fuel trade routes. The numbers paint a grim picture Europe’s seaborne middle distillate imports from the Middle East Gulf dropped to just 40,000 barrels per day in May 2026. According to Vortexa’s tracking data, that’s the lowest level in a decade of record-keeping, dating back to 2016. Russian diesel exports have cratered to roughly 234,000 barrels per day as of early July 2026. For context, the average through 2025 was around 817,000 barrels per day. That’s a decline of more than 70%. Before the 2022-2023 conflict triggered European sanctions, Russian diesel accounted for nearly half of Europe’s imports. Northwest Europe’s diesel imports from external regions hit a decade low of approximately 1.64 million tonnes in April 2026. May didn’t offer much relief either. Mexico enters the chat Mexico’s state-owned oil company Pemex has been quietly building its export capacity. Its Olmeca refinery, also known as Dos Bocas, resumed di...