CRAK - Shifting Crude Oil Flows Bolster DME Oman

• In an oil market that is increasingly globally interlinked, there is a consistent battle between producers in the Atlantic Basin and the Middle East vying for market share in Asia.
• It is increasingly clear that China will become the world’s largest oil refiner, with a total capacity of about 905 million tons per year or 18.4 million barrels per day, according to the latest US EIA data.
• The scale of Asia’s refining network will see a greater demand for imports from the Middle East and the Atlantic Basin.
• DME Oman stands at the center of the Middle East crude trade, along with Dubai, with over 5.5 million barrels per day priced off the Oman benchmark.

For further details see: