Russia’s Cheap Oil Gains Market Share In China

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China continues to buy discounted Russian crude and is gobbling up the ESPO crude grade from Russia’s Far East, upending global trade flows. ESPO, which Russia ships from its Far Eastern ports, is being offered at a 10-percent discount compared to similar-quality crudes from Brazil or West Africa, traders familiar with the Chinese buying told Bloomberg on Wednesday.   ESPO goes for around $1-$2 discount per barrel to the international benchmark Brent, while Brazil’s Lula and Sapinhoa crudes, for example, are being offered at a…      



Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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