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Less Heavy Barrels Impacting Asian Refiners

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Asian imports of heavy crude fell to a 5-month low in April, underpinned by a shift towards lighter crude supply according to Vortexa.

  • A lighter crude slate in Asia is also curbing naphtha imports.
  • Heavier grades have been hit ongoing OPEC+ production cuts and burgeoning domestic refining capacity in places like Saudi, Oman and Mexico which is leaving fewer heavy barrels for export.
  • Meanwhile, lower Dar blend exports and fuel oil exports from Kuwait and Russia are adding tightness to the East of Suez fuel oil markets.

Source: Vortexa

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Asian imports of heavy crude fell to a 5-month low in April, underpinned by a shift towards lighter crude supply according to Vortexa.

  • A lighter crude slate in Asia is also curbing naphtha imports.
  • Heavier grades have been hit ongoing OPEC+ production cuts and burgeoning domestic refining capacity in places like Saudi, Oman and Mexico which is leaving fewer heavy barrels for export.
  • Meanwhile, lower Dar blend exports and fuel oil exports from Kuwait and Russia are adding tightness to the East of Suez fuel oil markets.

Source: Vortexa