Global Fuel Oil Shortage Deepens as Middle East and Russia Supplies Collapse
Middle East high-sulfur fuel oil exports are down at least 800,000 tons a month as Asian refiners switch feedstock, Vitol said.
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8 Articles
The increase in oil exports through the Strait of Ormuz does not increase the production of high-sulphur oil (HSFO), which exacerbates the deficit in the market and contributes to price rises, announced to the Singapore conference the head of the Asian Group Unit, Kieran Gallagher.
Ship-Fuel Crunch to Persist Despite More Oil, Vitol Says
Accelerating crude exports through the Strait of Hormuz aren’t translating into higher production of a dirty shipping fuel, according to a top Vitol Group executive, tightening supplies and sending prices soaring.
Global Fuel Oil Shortage Deepens as Middle East and Russia Supplies Collapse
Global fuel oil supply is shrinking while demand for the fuel from the shipping industry remains robust, suggesting further supply pain down the road. Exports of high-sulfur fuel oil from the Middle East are running at a rate that is at least 800,000 tons a month lower than it was before the war, the head of Asian operations at Vitol said at an industry event. “Producers are paying higher freight rates and more risk premiums to shuttle cargoes o…
The resumption of hostilities around the Strait of Hormuz is keeping high-sulphur fuel oil (HSFO) premiums high as supply remains limited as a result of falling exports from the Middle East and Russia, while demand for bunker fuel remains strong, Vitol's head of Asia, Kieran Gallagher, said. The quantities of HSFO transported through [...]
The global fuel deficit (pain) for marine vessels is deepening, while demand from the maritime transport industry remains strong, which shows additional difficulties in securing future supply. Exports of Pacific fuel with high sulphur content from the Middle East are at least 800,000 tonnes per month lower [...] Article Fuel deficit for ships is increasing – Refinements in Asia have started to use it instead of oil appears first in CursDeGoverna…
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