Global refining and shipping industries are better prepared for the IMO 2020 than originally thought, according to Opec.
In its World Oil Outlook 2019, the oil exporters’ group predicted the compliance rate of vessel operators to be 85% next year, up 10% from its forecast last year.
The expectation is based on Opec’s views that refineries have the capability of producing sufficient IMO 2020-compliant fuels and that demand for high-sulphur fuel oil would find a bottom amid continued scrubber installation.
