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Asian refiners increase US crude exports
19/9/2018 12:00 am [rtl] WASHINGTON (Reuters) - Asian refiners turned their attention to the United States after receiving huge discounts. He explained that US crude oil exports to Japan and South Korea reached record highs this month, with refiners in these countries benefiting from huge discounts of up to $ 10 a barrel offered by US vendors after they lost Chinese customers amid the trade dispute between Washington and Beijing. . A record increase rose oil exports from the United States to South Korea in September to a record average of at least 230 thousand barrels per day. Accompanied by an increase in US shipments to Japan also to a record average of at least 134,000 barrels per day. South Korean and Japanese refiners need to find an alternative to offset the drop in their imports from Iran as a result of recent US sanctions over the cancellation of the nuclear deal. A reasonable amount of these (alternative supplies) come from the United States, It is difficult to resist the big discount for WTI crude from Brent. Price advantage , in turn , said Kim Woo - kyung, a spokeswoman for "SK Innovation", the owner of the company "SK Energy" major refiners in South Korea , "without a doubt that our purchases from the American College of crude oil back to the price advantage of competition." A spokesman for JXT Nippon Oil & Energy, Japan's largest refiner, said his company had not received orders from the government to stop importing Iranian crude so far, commenting on commercial operations only by saying, "We will determine the optimum crude In our procurement plan . " India's imports , the second-largest buyer of Iranian crude after China, trimmed orders from Iran while importing more US crude, but without giving exact figures . Japan and South Korea are among Iran's top oil customers who have succumbed to US pressure and cut orders from Iran, OPEC's third largest oil producer, with South Korea importing its last shipment in July, trade data showed. Supply shrinking Baker Hughes, an energy services firm, said US crude companies cut the number of diggers by two last week to 860. The number of rigs has stabilized since May after recovering since 2016, following a sharp collapse the previous year as crude prices fell . Expectations are that supply in the market will decline as US drilling activity and imminent sanctions against Iran stabilize. While Washington is pressing other countries to cut imports from Iran, it is urging other major producers to raise production so prices will not rise too much. Price war Oil prices are a source of concern for US President Donald Trump and his Republican Party candidates in the congressional elections scheduled for November 6, and it seems that global oil prices are rising due to fears of sanctions on Iranian oil exports, which will be renewed by Washington on the fourth of November, It is unclear what the United States will offer to major oil producers in return for increased crude production . OPEC and non-OPEC officials are due to meet later this month in Algeria to discuss proposals to share an increase in oil production after the two groups decided in June to increase output moderately.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=163351 [/rtl] |
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