The World's Oil Kings Are Under Threat - Bloomberg:
"Uneasy lies the head that wears a crown in the world’s biggest oil market. Middle East producers who for decades reigned as the undisputed leaders of oil sales to Asia are sensing a threat to their dominance, which is goading them to review age-old habits. Before the U.S. shale boom and the biggest price crash in a generation, buyers eager to feed their galloping economies had little choice but to purchase their supply even if terms weren’t desirable. Refiners have long grumbled about Middle East producers providing pricing for long-term oil cargoes in a timeline that’s out of sync with when individual “spot” shipments are traded. That complicated policy makes it difficult to compare the relative costs of various crudes. "
'via Blog this'
No comments:
Post a Comment