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The American Petroleum Institute (API) has highlighted the ‘remarkable’ levels of residual fuel oil demand in the country.

Daily demand for residual fuel oil last month stood at 300,000 barrels per day (b/d) – 6.8% down on the 322,000 b/d recorded in September 2020. Nevertheless, daily demand for the fuel grade over the first nine months of the year has risen 34.8%, from 204,000 b/d in 2020 to 275,000 b/d in 2021.

The API said the 300,000 b/d of demand last month is ‘remarkable’ since the implementation of IMO 2020 in January 2020 was ‘generally expected to lower the use of residual fuel oil.’

The API added that the ‘solid’ residual fuel oil demand ‘suggests that many ships have installed scrubbers’ and that the ‘need for marine shipping has been strong in the current environment.’

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