Nigeria, Brazil emerge as preferred crude oil market for Asian refiners
When a region such as Asia, which accounts for about 40% of global daily oil consumption, faces disruptions from traditional suppliers like the Persian Gulf and Russia, the consequences are predictable.
The gap has to be filled by other sources elsewhere. And that is currently playing out in the petroleum market as the U.S. President Donald Trump pressures Asian countries like India and China to stop buying Russian crude.
These policies have disrupted crude supplies, raised geopolitical uncertainties, and reshaped global oil flows.
Nigeria, Brazil emerge as preferred crude oil market for Asian refiners
