Japan secures ample sour crude from UAE in Aug but Middle East price structure seen expensive

Japan secured ample sour crude supply from the UAE in August as it picked up almost 10% more light and medium sour Abu Dhabi grades from a year earlier, though refiners and traders raised some concerns over rising feedstock procurement costs amid an expensive Middle Eastern price structure. Asia’s fourth biggest crude importer received 1.15 million b/d of crude oil…Japan secured ample sour crude supply from the UAE in August as it picked up almost 10% more light and medium sour Abu Dhabi grades from a year earlier, though refiners and traders raised some concerns over rising feedstock procurement costs amid an expensive Middle Eastern price structure. Asia’s fourth biggest crude importer received 1.15 million b/d of crude oil…  Read More