India’s diesel exports surged to an estimated 700,000 barrels per day (bpd) in October 2026, the highest monthly level since September 2025, as tightening global supplies and strong refining margins boosted shipments from Indian refineries.
Reliance Industries emerged as the largest beneficiary of the global diesel supply crunch, exporting an estimated 541,000 barrels per day during October, its highest level in the past 18 months, according to data from maritime intelligence firm Kpler.
Nayara Energy was the second-largest private-sector exporter, with estimated shipments of 39,000 bpd during the month.
The increase in exports comes amid a significant contraction in global gasoil production following disruptions caused by the ongoing conflict in West Asia and damage to refining infrastructure in Russia.
“India’s diesel exports hit 700 kbd in Oct’26, the highest since September 2025! Record refinery runs, max distillate yield and strong cracks are driving exports. With runs around 5.6-5.7 Mbd, exports should stay strong, although robust demand will limit upside,” said Sumit Ritolia, Lead Research Analyst, Refining & Modelling at Kpler, in a post on X.
Global diesel supply under pressure
According to the International Energy Agency’s (IEA) Oil Market Report 2026, global gasoil production averaged 26.4 million barrels per day (mbd) in the second quarter, down 1.5 mbd year-on-year. Production in the third quarter was estimated at 27.2 mbd, representing a decline of 1.7 mbd.
The Russia-Ukraine conflict, including Ukrainian drone attacks on Russian refineries, has damaged refining capacity and reduced Russia’s ability to export petroleum products. Disruptions to crude supplies from oil-producing regions have further tightened the availability of diesel, a critical fuel for transportation, industrial activity and global trade.
The supply constraints have pushed diesel prices to around $220 per barrel in Europe and the United States. The situation has also prompted discussions between US President Donald Trump and Russian President Vladimir Putin on potential diesel supplies to international markets to ease fuel prices. Trump has additionally waived certain sanctions, restrictions and duties under the Sanctioning Russia and Iran Act, citing US national interests.
Reliance dominates India’s diesel exports
Reliance Industries, which operates the Jamnagar refining complex in Gujarat, continued to dominate India’s petroleum product exports.
Its diesel and gasoil shipments rose to approximately 541,000 bpd in October, compared with 483,000 bpd in September and 463,000 bpd in July. This marks a substantial recovery from around 322,000 bpd in June 2026. The company’s previous export peak was approximately 495,000 bpd in September 2025.
Nayara Energy’s export volumes remained considerably lower and more volatile. Its shipments declined to around 39,000 bpd in October from approximately 69,000 bpd in September and 98,000 bpd in July. The company’s highest recorded monthly exports during the period were around 121,000 bpd in December 2025.
State-owned refiners also increase shipments
Public-sector refiners also contributed to India’s rising diesel and gasoil exports during October.
Indian Oil Corporation (IOC) led the state-owned companies with estimated shipments of 50,000 bpd. Hindustan Petroleum Corporation (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) each exported approximately 25,000 bpd.
With Indian refinery operations running at around 5.6–5.7 million barrels per day, strong distillate yields and favourable refining margins are expected to support export volumes in the coming months.
However, sustained domestic fuel demand could limit further growth in exportable supplies.
The latest figures underline India’s growing importance in the global refined petroleum products market, with its large refining capacity enabling the country to benefit from supply disruptions in key international markets.