S. Arabia tops Russian fuel oil exports in Nov. ’24

Saudi Arabia emerged as the top destination for Russian sea-borne fuel oil and vacuum gasoil (VGO) exports in November, as total shipments from Russian ports rose 6 per cent month-on-month (MoM) to approximately 4.26 million metric tons, according to traders and LSEG data.

Direct shipments to Saudi Arabia increased 29 per cent to 0.85 million tons, while exports to India and China declined by 5 per cent and 25 per cent, respectively, attributed to market adjustments and anticipated tax changes in China.

Around 0.6 million tons of dark oil products from Russia are on the way to Singapore, the world’s largest bunkering hub, with some cargoes potentially destined for China via alternative routes.

Attribution: Reuters

Subediting: M. S. Salama