NEW YORK: As oil crashes, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are even worse.
Having collapsed by about 60% this year, Brent and West Texas Intermediate (WTI) crude have stabilised at around US$25 a barrel, but the price rout is far deeper for actual cargoes, which are changing hands at large and widening discounts to the global benchmarks.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
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!