Insight
US crude arbitrage to Asia to close soon
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
US exported close to 1.4 million tons of crude to Asia in the first two months of 2017. This arbitrage opportunity came in timely for US producers to offload their surplus crude to Asian refiners looking to meet their supply shortfall from OPEC production cuts. At Brent-WTI of above US$2.0/bbl, WTI competes favourably with Dubai's refining margins for Asia, making it an attractive substitute for Middle East crudes. This arbitrage window will narrow from Q2 2017 onwards with the shift in US and Asia's crude market fundamentals, where WTI loses its shine against Middle East and African crudes due to price inflation.
Table of contents
- US crude arbitrage to Asia to close soon
Tables and charts
This report includes the following images and tables:
- Crude price differentials, $/bbl
- Singapore FCC refining margins, $/bbl
What's included
This report contains:
Other reports you may be interested in
Insight
Wood Mackenzie at Asia Petrochemical Industry Conference (APIC) 2025 - Key Takeaways
APIC 2025: Key takeaways across the chemicals value chain
$900
Insight
American made: will the USTR's anti-China measures bring large-scale LNG shipbuilding to the US?
From 2028, at least 1% of all US LNG exports are required to be carried onboard US-built LNG carriers
$1,050
Insight
Trump trade tensions: How US-China tariffs are reforming the aromatics and derivative markets
Analysis on the impact of tariffs on US and China aromatics industry
$900
