Australia crude exports, output rise in October; condensate spot prices under pressure

摘要

1. Exports grow 4% on month, 5% on year, 2. Output increases 19.7% on month, 3. Condensate alternatives remain cheaper: traders. Australia exported and produced more crude oil in October, but ample supply of naphtha and dismal petrochemicals margins in Asia are expected to continue putting pressure on spot price differentials for Australian ultra-light crude grades, market participants and trading sources said.