U.S. shale’s blows leave Middle East oil sellers staggering
In time, some nations will seek protection from increasing Chinese assertiveness to repay the loans given out under OBOR. Why? Well, when a local politician is faced with either keeping China happy and facing the wrath of his electorate, or pissing China off and avoiding death at the ballot box he might find China the easier target. And the easiest protection from China will be a strong alliance with the US including fuel purchases from the US. The US has it all lined up without even moving a finger.
A tussle is playing out in the market for so-called light oils, which have a lower sulfur content and are less dense than heavier varieties. When processed, these grades typically yield a higher amount of fuels like gasoline and naphtha. And now, American supplies are weighing on prices for such crudes as well as fuels made from them.
