Business Maverick: West Africa Oil Still Unloved Despite Post-Ukraine Supply Woes

📆 12/04/2022 7:55 PM
📰 dailymaverick

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 84%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Russia’s invasion of Ukraine has caused one of the biggest upheavals to global petroleum markets in living memory. It still isn’t resulting in a clamor for replacement barrels from west Africa.

Many of the region’s April oil cargoes have yet to find a home because the three biggest customers — China, India and Europe — are buying less, according to traders specializing in West African barrels.

“Teapots’ crude buying interests are going lower and lower due to the recent weak demand and deepening run cuts,” said Mercedes McKay, an analyst at Facts Global Energy. West Africa’s other main market, Europe, is also seeing muted buying because oil refineries there view cargo offer prices as too high, traders said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The best universities in South Africa to study business, accounting and lawThe latest edition of the QS World University Rankings by Subject has been released, ranking South African universities with courses that are among the best in the world.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

‘Money-flipping’ and the other investment scams hitting South Africa right nowThere has been news aplenty about an onslaught of investment scams since the start of 2022, from popular shows on Netflix glorifying the brazen tales of “swindlers”, to home-ground stories about opportunists fleecing individuals as well as businesses.
Source: BusinessTechSA - 🏆 24. / 61 Read more »