Oil traders set sights on high seas as diesel renaissance is born

Freight Ship

Diesel is getting a new lease of life as it is one option to meet the new regulations of the global sulphur cap in 2020, and more demand is posed to emerge from the sea. Arun Kumar Sharma, finance director of Indian Oil Corp., the nation’s biggest refiner says that the new regulations for sulphur fuel oil “are definitely good for refiners, especially in Asia. Opening up of new market for gas oil will further improve diesel cracks.”

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