Fuel Oil Prices, Trend & Forecasts | Provided by Procurement Resource

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Fuel oil is the by-product of petroleum distillation. It boils above 250°C and is burned on a boiler or in a furnace to generate heat for engine use or for generating power.

Fuel oil can be derived from the derivatives of crude oil. It is used to power household heating equipment such as furnaces, boilers, and various lamps and stoves.

The worldwide leading fuel oil producing countries are Saudi Arabia, Russia, Canada, Iraq, the United States of America, and the United Arab Emirates.

Key Details About the Fuel Oil Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Fuel Oil price, ethanol price, tin price etc. in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The Fuel Oil price trend, pricing database, and analysis can prove valuable for the procurement managers, directors, and decision-makers to build up their strongly backed up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting Fuel Oil Price Trend:

Fuel oil’s use in fuel for automotive, production of electricity, and heating fuel are impacting the fuel oil price trend.

Fuel oil includes diesel fuel that is used in heavy engines like buses, boats etc., and heating oil that finds application in used boilers and furnaces for heating homes and buildings, or industrial heating, as well as electricity production in power plants.

Key Market Players:

• BP plc
• Exxon Mobil Corporation
• PetroChina Company Limited
• SINOPEC Fuel Oil Sales Corporation Limited
• Royal Dutch Shell Plc

News and Events:

• September 21, 2022 - Iraq's Oil Marketing Company (SOMO) recently exported a fuel oil batch that was full of contaminants from a chemical cleaning agent. The affected oil accounted for around 600,000 to 700,000 tonnes of oil full of high-sulphur straight-run fuel oil (HSSR). It had chlorinated organic compounds (COC) varying from 90 to 130 parts per million (ppm).

About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team track the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth

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