Asia-Pacific is emerging as an increasingly important export market for Caspian light sour CPC Blend. Deliveries east of Suez hit a record high in the first half of 2017, as importers took advantage of positive supply economics. Refiners in Asia-Pacific took 112,000 b/d of CPC Blend in January-June — a 3.5pc increase over the average for the past two years, although the buyers remain largely the same. South Korean SK Energy and GS Caltex imported a combined 41,000 b/d in first-half 2017 — up by 370pc against last year and by almost 30pc compared with 2015.
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