MARKET EYE: Middle East Crude Markets Soften in Asia

摘要

Saudi Arabia's offer to provide additional crude to Asian refiners following the recent disagreement among Opec members has softened Mideast markets in Asia and caused price differentials to fall. While refiners agree that there are sufficient crude supplies in the current market, additional volumes from Saudi Arabia will be critical for balancing the market in the second half of this year when Asian demand is expected to strengthen (IOD Jun.9'11).