Light sweet crude hedge sought for Asia

摘要

Asia-Pacific refiners' increasing reliance on west African crude imports is creating a growing need for a new benchmark that could be used to hedge bob west African and regional sweet grades.Asia-Pacific imports of sweet west African crude has grown to about 1.4mn b/d so far this year,40pc more than in the same period of 2003 (AGM,26 Jufy,p2).