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US oil a threat to Mideast sellers in Asia market

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The flow of oil from the US to Asia is expanding, hence resulting in rivals between Middle Eastern and American oil producers. FMTNews

West Texas Intermediate Midland crude makes it way to the region and is scheduled for delivery to Singapore or Linggi in Malacca and Nipah in Johor.

Offering the shipment – scheduled to be delivered to Singapore, or Linggi or Nipah in Malaysia – against the Middle East’s oil benchmark brings it into direct competition with Gulf grades that’s produced in Saudi Arabia, Abu Dhabi and Qatar. The crude can be transferred to other vessels in the Malacca Strait near Singapore, making the logistics less complicated for buyers across Asia.

 

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