Asian refineries reinforce the import of oil from America and Africa

Asia’s oil refineries seek to obtain materials from sources that are far from their traditional suppliers in the Middle East, but this most diverse strategy has caused no impact in a market preparing for the abundance of offer. This region, which represents about 40% of global oil consumption, imports most of its needs from the Arab Gulf region. But the volatile approach followed by President Donald Trump in trade and foreign policy, including the sudden target of Russian oil flow, forced refineries to insist the purchase of shipping from the United States, Brazil and Nigeria. This wave is expected to support the purchases of light low raw materials, which plays an important role in determining the price of Brent -Ru, the global index, and the price differences between time differences were supposed to improve the accurate indicators that carefully monitor the market measurement. However, that didn’t happen. Instead, Brent -Bonus has taken off from Dubai Oil, Brent Ru -Price Bonus compared to Dubai -ru, the Middle East, has fallen to the lowest level since April. This is partly due to the expectation of traders that the market will see a surplus oil in the coming months, with additional quantities of crude from the inside and outside the “OPEC+” coalition. “We are approaching the surplus stage. People have been talking about this for a long time, everyone expects a decrease in the balance of demand and demand for the fourth quarter. We are approaching a critical stage,” Gold Gold Investors said. The expected abundance in the next quarter is mainly due to the re-“OPEC+” this year, and many supplies outside the market during the Kofid-19 pandemic, in addition to increasing the production of producers outside the coalition such as the United States, Brazil and Genoa. Worldwide production growth is higher than demand, “Energy aspects”, which offers the oil industry consultations, is that the average world production so far this year is 1.4 million barrels per day compared to the same period in 2024. ” Pariba. The foreign and commercial policies applied by Trump, characterized by strong and sudden pressure, redirect oil flow and increase the uncertainty and volatility in the markets. An exceptional purchases of India The Indian refineries bought about 20 million barrels of oil in the immediate market, which is an unusually high level, to avoid Russian supplies, according to the “Bloomberg” accounts. Although Indian refineries have recently returned to buy crude oil from Russia, it is clear that many are continuing. Also read: The Indian government’s refineries return to buying Russian oil after a short stop to indications showed that Trump’s pressure on countries to reduce their commercial surplus with the United States is starting to bear fruit. A Pakistan refinery at the end of July agreed to purchase the first shipping of US oil, while the Japanese company “Idemitsu Kosan” said it bought a small amount of US crude oil due to customs duties. “The very narrow difference between the price of Brent -Ru and Dubai ruol enables US oil and West Africa to flow competitively to Asia,” American Oil said. “Western -texas -Intermediate RU is very cheap in Asia, which opens new markets in Pakistan and Vietnam.” The increasing demand for US oil has led to high prices on the US Golf Coast, where the vessels are exported, but it is not significantly contributed to supporting local indicators on a larger scale. The price differences between the two consecutive decades of the Western Texas intermediate crude oil are close to their lowest levels since May, while shares in the coastal storage center, Oklahoma, rose the seventh week in a row. The market is also facing dark and unconfirmed demand expectations. It is still unclear to what extent the Gulf of Customs labeled by Trump affects global economic growth, in the light of the ongoing transformation of the world away from fossil fuels, especially in China. Also read: With the entry into force of the fees .. What does Trump’s customs dreams have on the ground? The growth of global oil demand is less than 2023. The International Energy Agency said that the global oil question will grow this year and the following year at a rate below the half space he saw in 2023. The maintenance work of refineries in the United States and Europe is also expected to reduce the demand for refining. Also read: The international energy agency expects a large surplus in the oil market. This contract is the most important banks pessimistic about oil. The major banks take a common pessimistic position against oil, as Goldman Sachs expects a slightly reduced price of Brent -Ru to about $ 65 a barrel by the end of the year, but the current indicators indicate that prices can fall more than expected. “I think the market is waiting for the right moment” to take a falling attitude towards Brent -Ru and Western Texas -Tussent time. However, the growth of the offer in the second half of 2026 is expected to delay, and “things are supposed to improve from that period,” said Teamer of BNB Pariba Bank.