Asia's refiners face profit crunch as Kuwait cuts crude exports
Muyu Xu - Reuters
August 18, 2023
Who was cited:
James Forbes, Senior Analyst – Upstream Oil - FGE London
Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its huge new refinery, which is driving up prices for other sour crudes and likely to squeeze profit margins.