Russia’s Fuel Oil Exports to India and Turkey Jump as Prices Drop ...Middle East

Russia hiked its fuel oil and vacuum gasoil (VGO) exports to India and Turkey in May as buyers preferred to purchase more fuel oil amid falling prices, according to shipping and trade data reviewed by Reuters. Russia’s oil products have been banned in the EU and other Western countries since 2023, so Moscow redirected most of the shipments to Asia and the Middle East. Saudi Arabia has emerged as the top buyer of Russia’s fuel oil as it is taking advantage of discounted prices to use the fuel for summer electricity generation. But Russian…

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