EnergyWatch

Bunker company predicts significant price increase for low-sulfur oil in 2021

If the Opec+ member states continue to comply with their agreement to lower oil production, the price of low-sulfur fuel oil could surge to over USD 500 by the end of 2020, assesses bunker company.

Photo: Russell Boyce/Reuters/Ritzau Scanpix

The price of low-sulfur fuel oil could surge to USD 500 by the end of 2020 if the members of Opec+ continue to abide by the agreement to lower oil production, assesses bunker company Integr8 Fuels in a new analysis.

The price of low-sulfur fuel oil has dropped dramatically since it topped around USD 740 per ton at the beginning of January. In part, the drop was caused by the collapse of the oil price and low-sulfur fuel is currently traded for USD 320 per ton.

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