The Traderszone Network

Published in TZ Latest News 20 March, 2015 by The TZ Newswire Staff

Here’s the Next Biggest Threat to Global Crude Oil Prices

Simple refineries that process crude into fuel oil are scaling back, because when oil prices slump, the government reduces the discount that these refiners — known as teapots to those in the industry — get for exporting fuel. Russia may increase oil exports by as much as 250,000 barrels a day this year, according to James Henderson, a senior research fellow at the Oxford Institute for Energy Studies who’s followed the country’s energy industry for more than 20 years. “The pain Russia is feeling from low oil prices has made more crude available for export,” Henderson said by phone March 18.

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