European refiners are producing less gasoline because of weak profit margins and annual maintenance, FGE analyst Benedict Mangeolles said.
Benchmark Northwest European gasoline profit margins fell to below $6 a barrel on Nov. 18, a seven-week low, according to Reuters calculations.
The end of seasonal maintenance will increase European supply and, if prices fall, it may again become profitable to ship gasoline to the U.S., Mangeolles said.