An oil market analyst sees a smoother-than-expected transition from the International Maritime Organisation’s (IMO) 0.5% sulfur cap on bunker fuel as refiners been anticipating rising global diesel demand.

Global diesel consumption has been rising faster than gasoline for the past 25 years with refiners responding  “by squeezing more diesel and jet fuel from every barrel, mostly at the expense of lower-value products such as heavy fuel oil, bitumen and asphalt”, John Kemp, a market analyst with Reuters, said.

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