Fuel oil is mainly produced in the Middle East, Russia, 

South America, and China. The global annual output is 

around 500 million metric tons, of which 300 to 400 million 

metric tons are traded on the open market. Fuel oil supply 

has been declining in recent years. This is mainly due 

to falling production output resulting from the upgrade of 

refining facilities worldwide, which has enabled deeper 

and more refined processing of fuel oil and increased the 

capacity for secondary refining

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