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US Crude Flows to Asia Remain Firm in October

OIL

US crude flows to Asia remain robust at 1.38mbd so far in October according to Vortexa figures.

  • •Due to attractive WTI/Dubai differentials amid OPEC+ production cutbacks and decreased oil purchases from France as a result of its refinery strikes, trade flows may continue to be robust in the near future (No US crude cargoes have loaded for France in October so far).
  • •Demand from Asia for US crude may weaken ahead. Asian refiners' specific demand for light crude is decreasing as light distillate cracks and cracker margins are tight.

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