Fuel oil (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue. In general terms, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power, except oils having a flash point of approximately 42 °C (108 °F) and oils burned in cotton or wool-wick burners. Fuel oil is made of long hydrocarbon chains, particularly alkanes, cycloalkanes, and aromatics. The term fuel oil is also used in a stricter sense to refer only to the heaviest commercial fuel that can be obtained from crude oil, i.e., heavier than gasoline and naphtha.

Small molecules like those in propane, naphtha, gasoline for cars, and jet fuel have relatively low boiling points, and they are removed at the start of the fractional distillation process. Heavier petroleum products like diesel fuel and lubricating oil are much less volatile and distill out more slowly, while bunker oil is literally the bottom of the barrel; in oil distilling, the only things denser than bunker fuel are carbon black feedstock and bituminous residue (asphalt), which is used for paving roads and sealing roofs.

Furnace oil is a dark viscous residual product used as a fuel in different types of combustion equipment. It conforms to IS:1593-1982 for fuel oils. Presently MV-2 grade (kinematic viscosity range of 125 to 180 CSt at 50°C) conforming to this specification is being marketed.