China’s HSFO imports soar as independent refiners lap up cheap Russian barrels

China’s high sulfur fuel oil import volumes more than tripled over December-January, compared with the preceding two months of October-November, as the independent refineries snapped up cheaper bargained barrels from Russia. The trend is expected to continue, likely with more vigor in February, especially after the recently imposed price caps on Russian-origin petroleum products, including fuel oil, market sources said…