The forthcoming measures are expected to create an oversupply of high-sulfur fuel oil while sparking demand for IMO-compliant products.
On January 1, 2020, the International Maritime Organization will enforce new emissions standards designed to significantly curb pollution produced by the world's ships.
The forthcoming measures are widely expected to create an oversupply of high-sulfur fuel oil while sparking demand for IMO-compliant products. "It is the biggest change in oil market history," Steve Sawyer, senior analyst at energy consultant Facts Global Energy, told CNBC.
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