Worried about sub-$20 crude? Some sellers are already there | Reuters

Worried about sub-$20 crude? Some sellers are already there | Reuters:

"An end to sanctions on Iran has driven global crude futures to 12-year lows and brought sub-$20-a-barrel oil in sight, although for some producers that is already a painful reality.

This unfortunate group sells some physical crude cargoes at prices that are closer to $10 a barrel, thanks to an abundance of the "sour" grades they produce and a consumer base that favors higher-quality "light" oils from other origins. (Graphic: reut.rs/1ZGAl0s)

Producers of certain crudes from Mexico, Venezuela, Canada and Iraq are bracing for worse to come as Iran - now free of international sanctions - prepares to offload hefty supplies of heavy sour grades onto export markets."



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