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Surprisingly, the anticipated OSP increase for Saudi crude to Asia didn’t materialize, with Saudi Arabia becoming more cautious not to destroy demand in its key market
Russian oil producers supplied their first cargoes of CPC Blend crude to the United Arab Emirates (UAE) in August and September, four traders told Reuters, opening up a new export route as Moscow looks to find new customers and skirt Western sanctions. Moscow has found new markets for its oil despite sanctions imposed by G7 countries since the start of the war in Ukraine, which Moscow calls a special military operation. The world's third largest oil exporter, Russia has rerouted most of its oil to China, India and Turkey over the past year, and has also sent car...
Russian oil producers supplied their first cargoes of CPC Blend crude to the United Arab Emirates in August and September, traders told Reuters, opening up a new export route as Moscow looks to... -September 20, 2023 at 09:51 am EDT - MarketScreener
Premiums for physical barrels are surging, with supplies from the Middle East, Azerbaijan and even Russia commanding premiums as refiners clamber to make diesel.
Across the world, premiums for physical barrels are surging. Read more at straitstimes.com.