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Kuwait and Mexico Set to Add to Fuel Oil Tightness

REFINING

Reduced fuel oil supply from Kuwait and Mexico may add bullishness to the fuel oil market according to FGE.

  • Higher summer power demand for HSFO in the Middle East and Asia will emphasis depressed Singapore stockpiles.
  • Kuwait Petroleum intends to cut HSFO production between May and July to boost gasoline production at its Mina Al-Ahmadi and Mina Abdullah refineries.
  • Mexico is set for lower crude runs May and June – lowering fuel oil exports.
  • Dos Bocas fuel oil production in Mexico is also expected to reduce into the end of this year as operations at the refinery ramp up. Diesel production is expected in ~2 months.


Source: FGE

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