S Arabia top buyer of Russian fuel oil in Nov

MOSCOW, Dec 25 (Reuters): Saudi Arabia was the top destination for Russian sea-borne fuel oil and vacuum gasoil (VGO) exports in November, according to LSEG data.
Total fuel oil and VGO exports from Russian ports last month rose by 6 per cent from October to about 4.26 million metric tons, according to Reuters calculations based on LSEG data.
Since the European Union's full embargo on Russian oil products went into effect in February 2023, Asian countries became the main destination for Russia's fuel oil and VGO supplies.
Direct fuel oil and VGO shipments from Russian ports to Saudi Arabia increased in November by 29 per cent month-on-month to 0.85 million tons.
Russian fuel oil and VGO loadings to India declined last month by 5 per cent to around 0.47 million tons, while dark oil products supplies from Russian ports to China decreased by 25 per cent to 0.32 million tons.
Fuel oil supplies to China are falling on an expected tax revamp, which would raise costs for imported oil products, according to market sources.