European slate
European refining network has seen its slate substantially modified in the last year. Events like Iran coming back to the European market created crude substitutions in many refineries. Below, main trends of European supply over the last year.
Middle-East
As mentioned above, Iran has significantly increased the barrels sent to Europe in 2016. With many majors resuming purchases of Iranian crude, European imports of these grades passed from 17 kbd in Jan 2016 to 850 kbd in March 2017. Most part of these imports came to MED refineries, but a non-negligible portion came also to NWE refining system. Middle-Eastern crude supply increased by  around 1 mmbpd between January 2016 and January 2017.

West Africa

WAF crude supply to Europe has significantly decreased in a year-to-year basis. We observed a drop of almost 400 kbd between January 2016 and March 2017 (1337 kbd vs 904 kbd). Clov was one of the most impacted grades with no cargos arriving to Europe in March.
North Sea & MED

Supply coming from MED and North Sea has also increased by around 600 kbd year-to-year in March. In particular, we’ve seen increasing quantities of CPC and Libyan crude flowing to NWE.