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Business & Finance

Reuters exclusively reports China snaps up Russia’s expensive Urals oil in thirst for sour barrels

Reuters exclusively reported that China’s refiners have purchased a quarter of Russia’s Urals oil exports planned for June in the Baltic despite record high premiums for the grade due to a lack of sour barrels as a result of the OPEC+ output cuts. Rising demand for Russian barrels will likely make oil firms more reluctant to extend the record oil cuts in tandem with OPEC+ for a prolonged period of time.

Article Tags
Topics of Interest: Business & Finance
Sectors: Commodities & Energy
Regions: Asia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
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