Fuel Oil Market Forecast 2025–2034: Global Demand, Pricing Trends & Regulatory Impact Fuel oil, a derivative of petroleum, is a heavy fraction used primarily in energy generation, marine propulsion, and industrial heating. It is categorized into heavy fuel oil (HFO) and light fuel oil (LFO) based on viscosity and usage. Global demand is being propelled by industrialization and the increasing need for backup and off-grid power in various sectors. Marine transportation and...