Despite tight short-term supplies, there are concerns that global oil production will increase, including from non-OPEC producers. This expectation has shifted sentiment toward bearishness, particularly for long-term contracts.
Brent has recently been trading at a slight discount to the Dubai Crude price for Asian markets. This is rare and reflects abundant Brent supply for Asia, prompting Asian buyers to shift to the typically cheaper Dubai Crude.
Source : Newsmaker.id
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