Major oil exporters in Latin America and the Middle East have expressed "strong interest" in switching the basis of their oil prices to Argus's U.S. Sour Crude Index following Saudi Arabia's adoption of the index, an Argus executive said on Thursday.
Euan Craik, chief executive of Argus's U.S. operations, declined to name the countries that were studying the change but described the interest as "unprecedented."
"It feels like a sea change. It's something unprecedented in our experience," Craik said in a telephone interview.
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