Asia’s U.S. oil imports to rebound in May after freight rates drop -sources
Asia’s crude oil imports from the United States are set to rebound in May after freight rates for ships to carry U.S. crude to north Asia fell by 27% from a week earlier, trade and shipping sources said. A rise in Asia’s oil imports from the United States could displace demand for similar-quality oil from the United Arab Emirates, Africa and Europe. The cost of chartering a Very Large Crude Carrier (VLCC) to move 2 million barrels of U.S. crude to China has dropped to about $8 million on Friday, ...
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