Refiners and fuel marketers in Asia are broadly dissatisfied with OPEC and its allies focusing on keeping oil prices afloat as regional consumer sentiment falters because of weakening purchasing power, and they have called on the producer group to respect fundamental prices in the physical and derivatives markets. The OPEC+ alliance's decision Sept. 5 to trim crude oil production quotas by 100,000 b/d in October will do little to change term and spot procurement as the group's output has been lagging behind its quota target anyway, crude traders and fuel marketers at major refiners in Asia, including Bharat Petroleum Corp. Ltd., ENEOS, Petronas, SK Innovation, and CPC Taiwan, told S&P Global Commodity Insights.
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