"Refiners' run cuts and limited physical supply of HSFO" are driving the crack spread higher, said a refining source in Asia.

From China, shipping fixtures showed at least 1.825 million mt of clean petroleum products were booked on ships to load over February 20-March 9.

Pricing economics and further infrastructure boosts will be key to boost output further.

Bolivia's YPFB wants to buy up to 237,727 cu m (1.495 million barrels) of diesel with maximum 0.5% sulfur, one cargo every 60 days, with one lot of gasoline blendstock of 172,000 cu m (1.082 million barrels).

Thailand's Prima Marine Public Company Limited on Tuesday said that it has expanded its floating storage unit, or FSU, business to support demand for storage and blending of low sulfur fuel oil, reflecting the accelerated demand for cleaner fuels due to the International Maritime Organization's 2020 global low sulfur mandate.

Prices for US crude cargoes for export are under pressure amid a well-supplied international market and an increasingly ominous outlook regarding the spread of Coronavirus, sources said this week.

The race to build oil-exporting terminals offshore Texas is hitting roadblocks amid the coronavirus outbreak as negotiations stall with potential customers in Asian markets.

Oil futures settled down for a second day Tuesday as the continued spread of the coronavirus outside China weighed on demand outlooks and sent equity markets sharply lower.