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Kuwait's October fuel oil exports drop by a third from record in September

IndiaTimes Tuesday, 31 October 2023
Kuwait's fuel oil exports in October dropped by over 30% from a record high in September due to diversion of supply to domestic power generation. Exports fell to 490,000 metric tons in October, driven by lower volumes of very low sulphur fuel oil (VLSFO) used for ships and electricity generation. The drop in exports has supported VLSFO prices in Asia, with benchmark Singapore cracks reaching a four-month high. Kuwait became a key VLSFO supplier globally after the Al Zour refinery came online, but its third crude distillation unit has yet to reach full capacity.
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