Asia's oil deficit to widen by 2025 - Total
SINGAPORE (Reuters) - Asia’s oil deficit will widen to 35 million barrels per day (
At the same time, Europe’s imports will be stable at 10 million
The United States will export shale oil, but its refineries will continue to import medium and heavy sour grades, Waymel said during the Asia Pacific Petroleum Conference (
Regulatory changes like IMO 2020, which will cap
“The fuel oil flows will be reduced. At the same time, the shipping industry will need distillates ... so Europe and Singapore will attract more distillates,” Waymel said.
New trade flows might emerge for high
Light sweet crude will be more in demand, while heavy sour grades will need to be processed by complex refineries, he said.
“Regulatory changes will dramatically affect an increase in flows of both crude and products. It should also have
Reporting by Jessica Jaganathan; editing by Richard Pullin
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