Global Fuel Oil Market Expected to Witness Significant Growth Through 2032
Fuel oil additionally referred to as furnace oil, is a yellowish to light-brown liquid mixture made up of crude oil distillation residues. The oil is mainly utilized in steam boilers on ships, power plants, and industrial plants around the world. In order to achieve the desired flash point and viscosity, the oil is typically blended with other petroleum fractions. Fuel oils are divided into two types: residual fuel oil and distillate fuel oil. During the distillation process, the distillate fuel oil is vaporized and condensed, so it has a specific boiling range and does not contain high boiling components.