The diesel market may see a bit of relief in the near future from the supply side, but achieving a balance still depends on demand, according to independent reoner Phillips 66. During the company's third-quarter earnings presentation, executives acknowledged that the global situation for distillate fuel oils such as diesel remains tight. “Clearly, the market around the world is tight on the part of distillates, ” executive vice president of marketing and commercial Brian Mandell said. “In the US, we're under the 2015-19 ranges by 22% [for] inventories. That's very, very weak inventories given that we're starting to go into the winter season. ”
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