SINGAPORE, Dec 18 (Reuters): Indian and Chinese oil buyers are snapping up Middle East crude after spot premiums for February-loading cargoes slumped by more than half to three-month lows on improved supplies to Asia.
The drop in crude differentials, also seen in some European and African crudes, comes as forecasters such as OPEC predict a supply surplus in 2022. Still, views differ on the extent and Goldman Sachs said on Friday average demand will still hit a record next year.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
