US EditionOPEC+ Supply Jump Shakes U.S. Light Sweet Crude Market - Mansfield Energy
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OPEC+ Supply Jump Shakes U.S. Light Sweet Crude Market - Mansfield Energy
As OPEC+ countries bring more oil to the market, Asian and European buyers are purchasing less U.S. sweet light crude, leading to price drops in the U.S. oil-producing regions. Since April, OPEC+ (led by Saudi Arabia, Russia, and others) has added approximately 1.37 Mbpd to global supply, largely increasing its output, while still holding nearly 4.5 Mbpd in cuts. With more supply available, refiners in Europe and Asia have greater flexibility in…
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