Saudi Arabia was the top destination for Russian seaborne fuel oil and vacuum gasoil ( VGO) exports in November, according to traders and LSEG information.

Overall fuel oil and VGO exports from Russian ports last month rose by 6% from October to about 4.26 million metric tons, according to Reuters computations based upon LSEG data.

Because the European Union's complete embargo on Russian oil products entered into impact in February 2023, Asian countries became the main destination for Russia's fuel oil and VGO products.

Direct fuel oil and VGO deliveries from Russian ports to Saudi Arabia increased in November by 29% month-on-month to 0.85 million loads.

Russian fuel oil and VGO loadings to India declined last month by 5% to around 0.47 million loads, while dark oil products supplies from Russian ports to China reduced by 25% to 0.32 million loads.

Fuel oil products to China are falling on an expected tax revamp, which would raise costs for imported oil items, according to market sources.

China and India import straight-run fuel oil and VGO for refining feedstock swimming pool as more affordable alternative to Urals crude.

Tankers with around 0.6 million lots of dark oil products from Russian ports are on their way signalling Singapore as destination, but a few of those freights might end up also in China.

Singapore is the world's largest bunkering center, and tankers frequently utilize it as way point on a long route to Chinese ports, specifically freights moving by means of cape of Excellent Hope rather of Suez Canal.

All the shipping data above are based upon the date of freight departure.

(source: Reuters)