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Tide turns for sulphur-rich oil in a sea of light crude

Reuters  |  LONDON 

By Libby George and Amanda CooperLONDON (Reuters) - The world is awash with oil, but in pockets of the market lower-quality, sulphur-rich crude is limited and buyers are competing for cargoes.Lacklustre gasoline demand growth, particularly in the United States, and fears of a repeat of last year's poor summer gasoline profits, led refineries in the Atlantic Basin to skew their yields in favour of distillates, by running heavier oil. Strong profits for fuel oil has also encouraged refineries to run sour crudes.This has compounded supply cuts, which were concentrated in heavier oils, to keep ...

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First Published: Thu, July 13 2017. 20:15 IST