Asian crude buyers go bargain shopping

摘要

As Russia and Saudi Arabia boost output and lower prices amid an escalating price war,savvy crude buyers in Asia appear to benefit as they look to secure the cheapest barrels available.A Korea Petroleum Association official noted,”What’s left in the[Asian]pie is still precious for the suppliers...the breakdown in[OPEC+]would mean that each of the suppliers would fight for what they got and what they still can get.”A senior executive with a North Asian refiner said,”Of course we’re going to lift[oil]from the[producer]that’s the cheapest.”A trading manager at GS Caltex added,”Refining margins are faltering,so it’s in our best interest to take the most economical feedstock options available.”