VGO, fuel oil buck upward trend

摘要

Total product exports from FSU ports increased by 3.62pc last month compared with September to 403,750 t/d, as refinery maintenance in Russia began winding down and export duties fell. Only fuel oil and vacuum gasoil (VGO) bucked the upward trend. Gasoil and diesel exports rose by 9.3pc to 116,000 t/d in October. The Baltic port of Primorsk, Russia’s main outlet for 10ppm diesel, loaded 39,700 t/d of the product in Octo- ber, up by 15.2pc on the month after refineries increased supplies after completing maintenance. And exports were boosted last month by some firms postponing September loadings to October to take advantage of an $8.5/t reduction in export duty to $43.9/t.