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[rtl]Release date: 2019/5/6 23:20 • 378 times read[/rtl]
BAGHDAD (Reuters) - US refiners are turning to less-used oil suppliers following US sanctions, tying up traditional suppliers of more widely used materials as they prepare for the summer peak season.
This month, Iraq, Nigeria, Brazil and Angola are expected to deliver their largest shipments of crude oil to the United States in more than 18 months, according to RevContef Aikon and trade sources, which will help meet the needs of much needed heavy sulfur ore, Reuters said.
Refinitive data showed that imports in May from these countries are expected to reach 1.23 million bpd, more than double the April imports. These shipments include 11 tankers carrying about 600,000 barrels per day of Iraqi crude, the highest level of that country in a year.
The increase in imports from these countries compared to the previous month is due to lower supplies from Venezuela and Iran due to US sanctions, and curbing OPEC production, which reduced the availability of heavy and medium-sourced crude. US refiners are in the process of finishing spring maintenance and heading towards the holiday season, where demand for gasoline is rising.
Trade companies said the shipments from those four countries would compensate most of Venezuela's oil losses from sanctions. The move to prevent the flow of dollars on Venezuelan President Nicolas Maduro's government this year has stalled US purchases, which last year amounted to about 500,000 bpd.
Nigeria and Angola are expected to hand over 420,000 barrels per day (bpd) this month, the highest level of the two West African countries in 13 months. There are also 206,000 barrels per day of Brazilian crude expected to be delivered in May, the largest amount since August. is over
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Oil scarcity drives US companies to Iraq
[/rtl][rtl]Release date: 2019/5/6 23:20 • 378 times read[/rtl]
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[rtl]BAGHDAD (Reuters) - US refiners are turning to less-used oil suppliers following US sanctions, tying up traditional suppliers of more widely used materials as they prepare for the summer peak season.
This month, Iraq, Nigeria, Brazil and Angola are expected to deliver their largest shipments of crude oil to the United States in more than 18 months, according to RevContef Aikon and trade sources, which will help meet the needs of much needed heavy sulfur ore, Reuters said.
Refinitive data showed that imports in May from these countries are expected to reach 1.23 million bpd, more than double the April imports. These shipments include 11 tankers carrying about 600,000 barrels per day of Iraqi crude, the highest level of that country in a year.
The increase in imports from these countries compared to the previous month is due to lower supplies from Venezuela and Iran due to US sanctions, and curbing OPEC production, which reduced the availability of heavy and medium-sourced crude. US refiners are in the process of finishing spring maintenance and heading towards the holiday season, where demand for gasoline is rising.
Trade companies said the shipments from those four countries would compensate most of Venezuela's oil losses from sanctions. The move to prevent the flow of dollars on Venezuelan President Nicolas Maduro's government this year has stalled US purchases, which last year amounted to about 500,000 bpd.
Nigeria and Angola are expected to hand over 420,000 barrels per day (bpd) this month, the highest level of the two West African countries in 13 months. There are also 206,000 barrels per day of Brazilian crude expected to be delivered in May, the largest amount since August. is over
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