The International Energy Agency (IEA) has hiked its forecast demand for very low sulphur fuel oil (VLSFO) this year as the new type of oil product emerges as the most popular marine fuel.
According to the OECD energy watchdog’s annual Oil 2020 report, global VLSFO consumption will amount to 1.3m barrels per day (bpd), compared with its previous forecast of 1.01m
