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Chinese Refiners Pay Record Premiums For Russian ESPO Crude
Chinese Refiners Pay Record Premiums For Russian ESPO Crude
Authored by Irina Slav via OilPrice.com,
Chinese refiners are paying a hefty premium for Russia's ESPO crude to replace Iranian crude that independent refiners were importing before the U.S. installed its naval blockade on the country.
East Siberia-Pacific Ocean crude, or ESPO, for delivery in November is trading at a premium of over $7 per barrel, with offers reaching as high as $10 per barrel over Brent crude, Bloomberg reported today, citing traders. The blend is loaded from Russia's Far East coast and...
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Halliburton Sees First Signs Of Life In America's Oil Patch: "We Are In Early Innings"
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An emerging theme we are focusing on is the early stage of a major capex upcycle in America's oil patch, with even Goldman now moving in that direction and forecasting a boom that could echo the industry's expansion cycle of the early 2000s.
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