Opec squeezes sour discount

摘要

Opec's tight grip on output is helping narrow the discount of sour to sweet crudes.Lower Mideast Gulf sour crude exports have coincided with reduced Russian medium sour Urals exports after Moscow hiked its crude export duty from 1 June.Heavier grades have been in strong demand,as fuel oil production margins have firmed by l-3/bl since early June.