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U.S. oil exports to Asia set to rise in second-quarter as freight costs fall

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Reuters  |  SINGAPORE/NEW YORK 

By Florence Tan and Devika Krishna KumarSINGAPORE/NEW YORK (Reuters) - U.S. crude oil exports to Asia are set to rise in the second quarter as sellers cut prices following sharp drops in freight rates and expected weaker demand in the United States, trading and shipping sources said.Offers for U.S. crude arriving in Asia in the second-half of March or April are about 50 cents a barrel lower than a month earlier, they said, making it more competitive against oil from the Middle East.U.S. crude grades popular with Asian buyers include light oils such as West Texas Intermediate (WTI) Midland ...

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First Published: Wed, January 09 2019. 12:50 IST
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