10APR2019 - NEWS - IMO 2020 regulation seems to boost global oil demand

Global oil demand is about to get a boost from a rule that’s supposed to help the environment. The world’s refineries will need to process about 700,000 barrels a day more oil by next year directly as a result of a rule to cut the maritime industry’s sulfur emissions, according to refining analysts interviewed by Bloomberg. The extra supplies mightn’t be easy to find in a market where OPEC and allied producers are removing millions of barrels of supply, and may extend their curbs. From January, ships will have to lower the sulfur content in their fuel to 0.5 percent, down from 3.5 percent in most parts of the world today. Alternatively, they can fit kit called scrubbers that stops airborne release of the pollutant.

Published by Editor - www.Livebunkers.com at 10-Apr-2019 05:14:34 [UTC] , contact editor at editor@livebunkers.com