February 05, 2024 14:40 GMT
America's Oil Demand in Asia Slipping
Crude supply from the Americas headed for Europe has maintained strength in January while flows to Asia have slipped according to Vortexa.
- In January 2024, Europe surpassed Asia as the preferred destination for Americas crude mainly driven by European appetite for US light sweet crude.
- Europe has also shown interest in Brazilian, Guyana and Mexican crude.
- Upcoming Spring maintenance in the US and Europe and weak Asian demand may cause higher America’s volumes to head into storage.
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