The fallout from Russia’s invasion of Ukraine and the prospects of a volatile market will be key topics at Asia’s largest gathering of oil traders and executives. That’s entered its second day in Singapore.
The Asia Pacific Annual Oil Conference returned to a face-to-face format for the first time since the pandemic broke out. Attendees are reflecting on the impact of upcoming European Union sanctions on Russian oil flows, the energy transition, and the prospect of a winter energy crisis. All times are local.
Trafigura says price pressure will continue (11:09 a.m.)
Macro factors are gaining as movements in and out of currency markets have a big impact on oil prices, Rahim said. Several dislocations in the market are allowing commercial companies to increase market share, he added.
Russia ensures most oil is shipped to BPCL (10:08 a.m.)
The refinery is buying Russian oil on a delivered basis and the process is going “smoothly so far,” Bilolikar said. U.S. crude now accounts for 20% of Bharat Petroleum’s purchases, he added.
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