Global Oil Market Weekly Highlights

The US biofuel sector is grappling with growing uncertainty surrounding the Clean Fuel Production Credit (45Z), a key provision of the Inflation Reduction Act (IRA) passed in 2022.

The new EUDR could lead to a significant shortage of PKO in the European market.

Canadian renewable fuel producers are experiencing challenges due to a surge in US renewable diesel imports.

In Aug., renewable feedstock usage in the US saw a slight dip, although it remained near historical highs.