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Europe Pulling in Record US Crude Volumes as Sweet Share Widens

OIL

Europe’s crude imports from US are at a record-high, while WTI inclusion in Brent basket helps to widen sweet-sour gap in Europe according to Vortexa.

  • Europe’s crude slate is turning even sweeter as record volumes of US crude and a slight increase in Brazilian crude heads to Europe. Meanwhile, OPEC+ cuts have materialised, leading to a decline in Europe’s imports of sour Saudi and Iraqi grades.