Sen Sees Saudi Fuel Oil Use Rise as Gas Cuts Crude Burn
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Saudi Arabia is boosting imports of fuel oil to supplement the use of natural gas to generate power and cool homes in the summer months, freeing up more of its crude for export, according to Energy Aspects Ltd.
“Fuel oil is on the rise, especially as prices had fallen quite sharply earlier in the year,” Amrita Sen, chief oil market analyst at the London-based consultant, said by e-mail yesterday. “With new fuel-oil power plants operating, we would continue to see fuel-oil burn rise.”