Fuel oil, which is distilled from crude oil and often left as residue during the refining process, refers to a range of the least volatile and heaviest of the commercially used fuels i.e., heavier than gasoline and naphtha. It is also known as heavy oil, marine fuel or furnace oil.
In general terms, fuel oil is used to burn in a furnace or boiler for the generation of heat or used in an engine for the generation of power. The trend of consumption and environment related issues in the past years assume the demand of 6.7 mb/d for the fuel oil in 2020.