Decline in European Gasoline Exports to West Africa

Gasoline exports from Northwest Europe to the West African region, a key outlet for European exports, fell to their lowest level in 17 months in April as exporters from the Middle East and Russia entered the market. This trend is expected to continue due to new Dutch environmental legislation that creates obstacles for sales to the region. According to Refinitiv data, car fuel exports to West Africa from Northwest Europe stood at about 630,000 tons in April, a sharp decline from March levels, marking the lowest since November 2021. Meanwhile, exports from the Gulf region to West Africa reached 253,000 tons in April, the highest level since March 2022. This follows a significant increase in Russian exports to West Africa during the first quarter as Moscow was forced to seek new outlets for its oil exports after sanctions from the G7 and the ban imposed by the European Union following its attack on Ukraine.