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OIL: Saudi Arabia Raises Fuel Oil Imports Ahead of Peak Summer Demand

OIL
BulletEnergy BulletsCommodities

Imports of fuel oil to Saudi Arabia are heading towards the highest volume since November 2020, preliminary Kpler data shows, ahead of the typical increase in demand for fuel oil for power generation during summer months, according to Bloomberg.

  • Imports of products including high-sulfur straight run fuel oil, vacuum gasoil and finished fuel oils look set to increase 25% y/y this month to over 1.5m tons.
  • The imports have either arrived at or are signalling ports in Saudi Arabia during May. 
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Imports of fuel oil to Saudi Arabia are heading towards the highest volume since November 2020, preliminary Kpler data shows, ahead of the typical increase in demand for fuel oil for power generation during summer months, according to Bloomberg.

  • Imports of products including high-sulfur straight run fuel oil, vacuum gasoil and finished fuel oils look set to increase 25% y/y this month to over 1.5m tons.
  • The imports have either arrived at or are signalling ports in Saudi Arabia during May.