“We have already seen increased gas-to-fuel oil switching and gas-to-gasoil is next,” said Eugene Lindell, head of refined products at consultancy FGE. “This is one of the pillars of gasoil strength right now.”
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FGE expects that switching in Europe will only increase demand for diesel-type fuel by less than 100,000 barrels a day — a tiny fraction of the region’s overall consumption.
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