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OIL PRODUCTS: Saudi Arabia Was Top Nov Buyer of Russian Fuel Oil & VGO: Reuters

OIL PRODUCTS
Energy BulletsCEEMEARussiaBulletCommodities

KSA was the top destination for Russian sea-borne fuel oil and VGO exports in November, according to Reuters.

  • Total fuel and VGO exports from Russian Ports rose by 6% on the month in November to 4.26m mt.
  • Since the EU’s full embargo on Russian oil products went into effect in Feb 2023, Asian countries became the main destination for Russia’s fuel oil and VGO supplies.
  • Direct fuel oil and VGO shipments from Russian ports to Saudi Arabia increased in November by 29% on the month to 0.85m mt.
  • Russian fuel oil and VGO loadings to India declined by 5% in November to 0.47m mt, while dark product supplies from Russia to Cina fell 25% to 0.32m mt.
  • China and India import straight-run fuel oil and VGO as a cheaper refining feedstock alternative to Urals crude.
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KSA was the top destination for Russian sea-borne fuel oil and VGO exports in November, according to Reuters.

  • Total fuel and VGO exports from Russian Ports rose by 6% on the month in November to 4.26m mt.
  • Since the EU’s full embargo on Russian oil products went into effect in Feb 2023, Asian countries became the main destination for Russia’s fuel oil and VGO supplies.
  • Direct fuel oil and VGO shipments from Russian ports to Saudi Arabia increased in November by 29% on the month to 0.85m mt.
  • Russian fuel oil and VGO loadings to India declined by 5% in November to 0.47m mt, while dark product supplies from Russia to Cina fell 25% to 0.32m mt.
  • China and India import straight-run fuel oil and VGO as a cheaper refining feedstock alternative to Urals crude.