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Global Light/Heavy Crude Mix Shifts

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In the global crude market, the share of heavy crude loadings fell from 15.5% last October to 13.9% in March this year, the lowest since at least 2016 according to Vortexa.

  • The share of light crude loadings increased from 30.4% to 32.2% in the same period.
  • OPEC+ production cuts and heavier barrels being reserved for domestic refining in places like Mexico and Kuwait have pressed global supplies.
  • Vortexa expects the combination of tighter heavy crude and fuel oil supplies, as well as seasonal rise in power generation demand to push up fuel oil cracks in the weeks ahead.

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In the global crude market, the share of heavy crude loadings fell from 15.5% last October to 13.9% in March this year, the lowest since at least 2016 according to Vortexa.

  • The share of light crude loadings increased from 30.4% to 32.2% in the same period.
  • OPEC+ production cuts and heavier barrels being reserved for domestic refining in places like Mexico and Kuwait have pressed global supplies.
  • Vortexa expects the combination of tighter heavy crude and fuel oil supplies, as well as seasonal rise in power generation demand to push up fuel oil cracks in the weeks ahead.

Keep reading...Show less