Russia Ramps Up Fuel Oil Exports to Saudi Arabia by 18% in March

Russia boosted seaborne fuel oil and VGO exports to Saudi Arabia by 18% to 1.0 million tonnes in March, using discounted supplies to power Saudi's sector and conserve crude amid a price rally and U.S. waivers. This follows Saudi Arabia's February crude exports rising to 7.276 million bpd from 6.993 million bpd, up 283,000 bpd per JODI data. Overall Russian fuel oil exports fell 10% to 3.35 million tonnes due to disruptions, with sharp drops to Asia. These shifts signal evolving supply dynamics that could pressure crude prices or boost regional refining.