• 9 December 2025
  • Market: Oil Products
The winter season usually sees a winding down in bitumen activity in terms of construction and road building, but not in 2025. Our experts delve into what has been a surprisingly unseasonal end to 2025.

Listen now

Listen to our market experts – Jonathan Weston (Europe and Asia Lead, and Editor of Argus Bitumen) and Keyvan Hedvat (Europe and Africa Bitumen Editor), give detailed insights into their news snapshots including;

  • Mediterranean bitumen supply much tighter than usual going into winter low demand season
  • Med cargo diffs to fuel oil now broadly - and very unusually - in parity with fob Rott diffs
  • Ongoing positive demand into north African and Black Sea markets
  • Regional refinery bitumen production restricted - including SRI Augusta and US sanctions affected Bulgarian and Serbian refineries
  • Arbitrage to the US from Med stays firmly shut after brief opening in Aug/Sept
  • West Africa, now in dry/bitumen demand season, set to draw more European bitumen.
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