Daily Energy Report
Iraq’s fuel oil exports are increasing, US inventories below the 5-year range, Trump to overhaul the IEA, Hungary oil imports from Russia, future of natural gas, and more.
Chart of the Day: Large Increases in Iraq’s Exports of Fuel Oils
Summary
Figure (1) shows trends in Iraq’s exports of various types of fuel oils. Exports have been increasing since the middle of 2023. Most of the increases in fuel oil exports were to the UAE. What is going on? What is the impact on markets? Answers below.