|2019-12-16 来源： 中国石化新闻网|
李峻 编译自 石油新闻
Global fuel oil demand in 2020 to fall 4.6%: IEA
Global fuel oil demand will average 6.148 million b/d in 2020, a 4.6% drop from 6.440 million b/d in 2019, the International Energy Agency said in its December report publishedThursday.
Through Q4 2019 fuel oil demand in the Netherlands seems to have reflected the behaviour of bunker retailers, "who emptied their high sulfur fuel oil inventories ahead of the IMO specification change," the IEA said. "After getting rid of the high sulfur material, bunker sellers started to refill their tanks with very low sulfur fuel oil in September," the agency said.
Bunker suppliers at Rotterdam have reported very weak demand for 3.5% sulfur fuel oil ahead of the International Maritime Organization's new rules reducing sulfur limits in bunker fuel from January 1, and have scaled down supply accordingly, .
At the prompt, the HSFO barge market has seen decreased liquidity this week. Despite fading demand for HSFO barges inthe run-up to the IMO-mandated sulfur cap, some market participants have expressed concerns that persisting pockets of demand for the product could outstrip reduced supply in the coming months.
The forward curve for 3.5% fuel oil suggests strength may continue into 2020. The 3.5% fuel oil FOB Rotterdam barges time spread between January and February 20, which measuresthe structure in flat prices between the months, was assessed at $1.50/mt on Tuesday, increasing $3 from minus $1.50/mt the previous day. This shift from contango into backwardationindicates that market participants still see value in the product at the start of 2020 despite an expected fall in demand as the new sulfur regulations come into force.