Viewpoint: Middle East HSFO supplies set to rise
- Date: 29-Dec-2021
- Source: Argus Media
- Sector:Oil & Gas
- Country:Middle East
Viewpoint: Middle East HSFO supplies set to rise
Dubai, 29 December (Argus) — High-sulphur fuel oil (HSFO) availability in the Middle East looks set to rise in 2022, but the ability of Iran to promptly restore abundant exports of the fuel will be one of the key factors weighing on regional margins and differentials.
The lifting of export barriers will depend on the outcome of slow-moving, indirect negotiations between Iran and the US over a return to the 2015 Iran nuclear deal, known formally as the Joint Comprehensive Plan of Action (JCPOA).
Iran is a major HSFO producer and was a large exporter of the fuel before the administration of US President Donald Trump abandoned the nuclear deal in 2018 and reimposed sanctions on Tehran.
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