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Trade Trends News
2025-07-30
According to traders and data from the London Stock Exchange, Saudi Arabia became the largest destination for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in June, driven by increased energy consumption during the hot summer months.
Since the European Union's full embargo on Russian oil products came into effect in February 2023, Middle Eastern and Asian countries have become the main destinations for Russian fuel oil and VGO supplies.
In June, the volume of fuel oil and VGO exported directly from Russian ports to Saudi Arabia rose by 9% month-on-month to 800,000 metric tons.
Shipping data shows that last month, Russian loadings of dark oil products to India and Turkey fell by 49% to 0.34 million tons and 33% to 0.28 million tons respectively, compared to previously abundant supply levels.
In June, nearly 400,000 tons of fuel oil and VGO were supplied from Russian ports to Egypt's Ain Sukhna terminal, a major fuel hub that frequently allocates oil products for storage and re-export.
Data from the London Stock Exchange shows that Singapore, Senegal, and China were also among the other major destinations for Russian fuel oil and VGO exports last month.
Currently, only two vessels carrying 180,000 tons of fuel oil have departed from Russian ports, rounding the Cape of Good Hope en route to Asia.
Since December 2023, traders have been diverting Russian oil product cargoes around Africa to avoid the Red Sea due to heightened risks of attacks by Yemen's Houthi group, which is allied with Iran.
All shipping data above is based on cargo departure dates.
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