In 2020, the IMO sulfur cap on marine fuels will usher in significant changes to global fuels demand, pricing, and trade. This month’s Global Fuels Two-Year Outlook highlights our explicit forecast of changes in bunker demand for marine gasoil, HSFO and LSFO and examines the future of product markets more broadly through 2020.
Bloomberg:Russia says its on track this month to fullyimplement the production cuts promised in the OPEC+ accord, yetits crude exports will be almost as high as before the deal,according to consultant ESAI Energy LLC. The irony of thesituation “will not be lost on the Saudis,” ESAI’s principalanalyst Andrew Reed said in a note. As the Middle Easternkingdom keeps a tight lid on its own shipments, Russia will sendmillions of extra barrels overseas in April as its domesticrefineries process less fuel, partly due to prolongedmaintenance at a major refinery owned by Rosneft PJSC, he said.