Fuel Oil is a petroleum chemical compound produced by the fractional distillation of crude oil. It is a flammable fluid that comprises long-chain hydrocarbons such as alkanes, alkenes, sulfur, oxygen, nitrogen, aromatics, and cycloalkane compounds. It is a yellowish-brown fluid with a kerosene-like odor.
The composition of Fuel Oil depends upon the intended requirement, its sources, and the additives added to it in the making process. Its boiling point ranges from around 175° C to 600° C. Various types of Fuel Oil are utilized for different industrial applications, namely, distillate Fuel Oil, diesel Fuel Oil, and light Fuel Oil.
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The key importing countries to import Fuel Oil are Vietnam, the United States, and India. On the other hand, the primary exporting countries for the same are India, Turkey, and China.
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 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 forecast, including India Fuel Oil price, USA Fuel Oil price, pricing database, and analysis can prove valuable for 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 has several commercial applications, where it is used to generate electricity and steam for powering huge machinery in large-scale industries. It is an efficient fuel for powering mining equipment, along with machines used in agricultural fields that are used for farming, forestry, and fertilizing activities.
Machinery such as steamers and boilers in power plants use Fuel Oil to continue processing. It is used to ignite the engines of commercial vehicles such as ships, boats, cargo, trucks, and many other automobiles. Commercially, it is blended with other petroleum fluids to produce the required viscosity and flash point, which has different applications incorporated in the global market.
- BP plc
- Exxon Mobil Corporation
- PetroChina Company Limited
- SINOPEC Fuel Oil Sales Corporation Limited
- Royal Dutch Shell Plc
News & Recent Development
- Date: May 1, 2023- A recent study by Kpler showed India to be the largest supplier of Fuel Oil in Europe this month.
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.
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