Europe has seen an ongoing dearth of marine fuel supply due to the outage of the hydrocracker at the 220,000 b/d Sines refinery.

Oil companies operating in Brazil shipped 43.612 million barrels in October.

OPEC, Russia-led allies to proceed with production increase for January.

While LNG is available, its very expensive and requires infrastructure, said Nikolaos Liapis, supply and operations director at Elinoil.

Supply in the H1 December market market is tight, which saw the cash differential to the Mean of Platts Singapore marine fuel 0.5% assessment rise to $22.13/mt Dec. 1, Platts data showed.

Safe and efficient bunkering operation was performed by the barge LNG London at the Rotterdam Short Sea Terminals.

Supply at Zhoushan, China's largest bunkering port, is sufficient to meet demand, bunker suppliers said.

Despite the supply tightness in Singapore, Hong Kong marine fuel 0.5%S market is well supplied, industry sources said.

Incident affected delivery, loading schedules of crude oil, refined products, petrochemicals.

IMO capped global sulfur content in marine fuels at 0.5% on Jan. 1, 2020, down from 3.5% previously, outside the designated emission control areas.

IMO is currently targeting a 50% cut in emissions from the global fleet by 2050 compared with 2008 levels.

Refined product futures gave up much of overnight gains but stay in black as signs of strong demand offset large inventory builds.

The increased fuel oil sales come as some Japanese power utilities move to secure fuel oil domestically for winter amid high spot LNG prices.

All the exports in October fell into the category of "custom warehouse," which indicates that the exports were fuel oil sold as bonded bunker.

Among the primary procurers of the 180 CST HSFO grade in Asia, both Bangladesh and Pakistan have been reducing their procurement volumes as lower temperatures in the region have also led to less demand from domestic utilities companies.

Operations were suspended across the country with ports in the west, such as Daesan and Incheon, and the south, such as Yeosu, Ulsan/Busan, affected, the sources added.

Under the IEA's net-zero scenario, hydrogen demand of around 90 million mt/year in 2020 would roughly double by 2030.

Meanwhile, all eyes will turn to the OPEC+ meeting taking place over Dec. 1-2 to see how the group responds to the latest development.

A supplier said operations at the inner anchorage of Zhoushan port were also suspended late Nov. 29.

The approaching winter has led to a seasonal fall in demand from the power generation sector.