Global market will struggle to absorb increased fuel output

摘要

Global fuel oil output is set to rise sharply in the coming months as refinery runs worldwide increase, yet demand will be flat. By August, world fuel oil output may be 0.5 million bpd (MMbpd) higher than it is today. Even with balances in the Middle East set to tighten due to seasonal demand increases and Saudi supply dropping off from current extraordinary highs, the market will struggle to absorb these incremental barrels. These observations are included in a report from Energy Aspects.