India and Saudi Arabia were the top destinations for Russian seaborne fuel oil and VGO in October according to LSEG. 

• Total fuel oil and VGO exports from Russian ports in October declined by 3% m/m to about 4.15 million metric tons.
• Direct fuel oil and VGO shipments from Russia to Saudi Arabia declined in October by 9% m/m to 0.65 million tons.
• Flows to India rose last by 56% m/m in October to around 0.51 million tons, while dark oil products supplies from Russian ports to China decreased by 35% to 0.47 million tons.
• Saudi demand has reduced as peak burn for power gen in the summer has passed.
• Meanwhile, Chinese refiners are likely to start taking lower volumes after a tax revamp that will raise costs, further hitting independent refiners in a low margin environment.