The supply of fuel oil is under control despite refiners switching more production to higher-margin middle distillates, a senior executive from Saudi Arabia’s Yasref Company said, according to Reuters.
“We believe the balance is there in the (Middle East) region,” Nayef Alharbi, corporate planning general manager at the Yanbu Aramco Sinopec Refining Company, told the APPEC conference.
The impact on the vessel bunkering market is obvious as it is a key demand outlet for fuel oil, but the overall balance is still under control, said Alharbi.
