Saudi Arabia and India are the largest buyers of Russian fuel oil in July, the data shows

Saudi Arabia and India are the main destinations for the export of Russian marine oil fuel and Gasoil Vacuum (VGO) in July, traders and LSEG data said.

Since the full embargo of the European Union about Russian oil products came into force in February 2023, Middle Eastern and Asian countries have become the main destination for the supply of fuel oil and Russian VGO.

Delivery of fuel oil and VGO directly from the port of Russia to Saudi Arabia amounted to around 1.1 million metric tons in July, slightly changed from June, shipping data showed.

Most cargo is destined for power plants because Middle Eastern countries usually burn crude oil and high sulfur fuel oil (HSFO) for energy generation between June and August, when the Nails are request for AC.

Loading Russia’s dark oil products to India rose last month by 65% ​​from June to around 0.6 million tons, LSEG data showed.
India imports straight fuel oil and VGO from Russia as a cheaper alternative for urral crude oil in the pond of the refinery raw material.

Although Russia continues to be the largest oil supplier to India, oil imports decline in July a quarter of the month because some refiners slow down the purchase due to smaller discounts.

Singapore, Türkiye and Senegal are also one of the main objectives for Russian fuel oil and VGO export supply last month, LSEG data shows.

All shipping data above are based on the date of cargo departure.
Source: Reuters