The dramatic rise in US shale output has transformed the quality of oil on the global oil market, adding a glut of light sweet crude. OPEC, Russia, and its allies - the bulk of which produce heavy sour crude - have tried to balance the market by making significant output cuts.
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This has created a huge imbalance between sweet and sour crude and light and heavy oil, profoundly impacting every part of the barrel and the oil sector. This shift in crude quality poses a fresh set of challenges for refiners, producers and consumers.
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Turning tides: The future of fuel oil after IMO 2020
This report provides a thorough introduction to the IMO's sulfur cap on marine fuel, its impact on markets and what to expect from the new regulatory framework.Download the report