Asia Gobbles Up Cheap U.S. Crude At OPEC’s Expense

August 12, 2022
Posted by: AliensFaith
Category: OBJECTIVE PRESS

Advertisements

Asian buyers have bought a substantial amount of cheap U.S. crude on the spot market, suggesting that demand for Middle Eastern grades will be lower in the immediate future, Bloomberg reports, citing traders. According to them, South Korean and Indian refiners had bought some 16 million barrels of U.S. crude on the spot market so far this month, with most of the oil to be delivered in November. That’s twice as much as they bought in July but still a little less than they bought over the first five months of the year. The price differential…

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.

Asia Gobbles Up Cheap U.S. Crude At OPEC’s Expense

Share this:

Share this:

Discover more from Maheri Network