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Global oil demand seems poised to recover to pre-pandemic levels in 2022, but a sharp decline in upstream investments and OPEC’s cautious approach in lifting the group’s production volumes could lead to an undersupplied market next year, with Asian end-users and consumers mostly finding crude and commodities prices overheated, industry participants said at the S&P ...
Asian refiners poised to heavily favor Iranian condensate for better product margins Asian refiners equipped with condensate splitters will likely favor Iranian ultra-light crude heavily over other similar grades offered in the market when US sanctions against Tehran are lifted, as the companies expect Iranian South Pars condensate’s steep price discount to boost their product margins. More and more Asian refiners and petrochemical makers are preparing for a possible resumption in Iranian crude and condensate trades amid growing optimism that severe restrictions on Iran’s oil sales could ...