Export outlets drop after Russia’s invasion of Ukraine Upgrades that will cut fuel oil output facing delays Rising stockpiles of fuel oil in Russia, as international buyers shun the country’s hydrocarbons, were set to weigh on refinery runs in April, according to market sources. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “There is a problem with fuel oil,” one source said, with another concurring, saying there was an “abundance of fuel oil”. That has taken its toll on domestic prices which have started tumbling after being relatively steady for much of March. Fuel oil basis FCA Ufa traded on the St. Petersburg exchange at around Rb15,000/mt ($179/mt) on April 1, or about half the level at the end of February. Russian refineries have been carrying out large-scale upgrades in recent years aimed primarily at reducing fuel oil output in favor of […]