Asia's refiners face profit crunch as Kuwait cuts crude exports
Oil
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Article by:
Muyu Xu - Reuters
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Date Published:
August 18, 2023
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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.
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