Asia Rushes To Buy Spot Oil Cargoes After OPEC+ Cuts ...Middle East

The biggest oil importers in Asia have been busy buying June-loading spot crude cargoes from the Middle East since top OPEC+ producers announced additional cuts beginning in May and after Saudi Arabia hiked again the price of its term cargoes going to Asia. Customers from China, Japan, and Thailand have been snapping spot cargoes from Middle Eastern producers such as the United Arab Emirates (UAE) and Qatar, traders told Bloomberg on Thursday. The higher demand for spot Middle Eastern supply has pushed up the regional Dubai benchmark, according…

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