TRADELINE LIVE CRUDE OIL NEWS UPDATE:
Why Iran's Lost Oil Sales Could Be Met by These Three Producers
With the noose of U.S. sanctions already tightening on Iran’s oil exports, buyers and traders of crude are asking who can make up for the expected shortfall in supply. Most Iranian oil is heavier, or more viscous, than international benchmark crudes. It’s also high in sulfur, an impurity.
That leaves three countries -- Saudi Arabia, Iraq and Russia -- in the strongest position to fill the gap and profit from Iran’s misfortune. Even the U.S., which produces a different type of oil, could be a potential source of additional supplies.
1. Isn’t all crude the same?
Oil producers in the Middle East pump about a quarter of the world’s crude, and most grades that are both heavy and high in sulfur come from fields in the region. Refiners, due to environmental controls, must remove sulfur to turn crude into products such as gasoline and diesel. High-sulfur grades are referred to as sour.
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Why Iran's Lost Oil Sales Could Be Met by These Three Producers
With the noose of U.S. sanctions already tightening on Iran’s oil exports, buyers and traders of crude are asking who can make up for the expected shortfall in supply. Most Iranian oil is heavier, or more viscous, than international benchmark crudes. It’s also high in sulfur, an impurity.
That leaves three countries -- Saudi Arabia, Iraq and Russia -- in the strongest position to fill the gap and profit from Iran’s misfortune. Even the U.S., which produces a different type of oil, could be a potential source of additional supplies.
1. Isn’t all crude the same?
Oil producers in the Middle East pump about a quarter of the world’s crude, and most grades that are both heavy and high in sulfur come from fields in the region. Refiners, due to environmental controls, must remove sulfur to turn crude into products such as gasoline and diesel. High-sulfur grades are referred to as sour.
www.tradelinecommodity.com
India's No.1mcx Tips Provider
Missed Call @:/8057046270/8057690837
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