Oman crude demand rises as Asian refiners prioritise supply security

AI Summary

Asian refiners increasingly prefer Oman crude oil due to concerns about shipping risks through the Strait of Hormuz, prioritizing delivery security amid regional tensions. Oman Export Blend's limited logistical risk exposure is boosting its market share in Asia's Persian Gulf imports.

Oman crude oil is gaining favour among Asian refiners as concerns over shipping risks through the Strait of Hormuz prompt buyers to place greater emphasis on delivery security. ‘Oman Export Blend is rapidly becoming Asia’s preferred medium-sour crude in the Persian Gulf market, owing to its limited exposure to logistical risks stemming from the US-Iran ...