Refineries in South China are estimated to supply 117,000mt of fuel oil in March, up 15% from the previous month, C1's research found.
The commodity output comprises of 33,000mt of slurry, 34,000mt of low-sulfur residue and 50,000mt of high-sulfur residue.
Some refineries halted bitumen production in March and shifted to produce fuel oil because of negative bitumen production margins, market sources denoted.
Ten major refineries are forecast to provide 67,000mt of fuel oil in March, up 10% on month.
Fuel oil supply from 17 minor refineries might increase 23% to 50,000mt in total.
