rainman + 263 July 25, 2018 Italy’s imports of U.S. crude oil vaulted to a record in June after attacks by armed groups shuttered two major Libyan oil ports and cut off most deliveries from the OPEC country, a key supplier to Europe, according to Thomson Reuters trade flow data and shipping intelligence firm Kpler. The flows reflected the U.S. oil industry’s growing ability to serve as an alternative supplier when contained regional conflicts pinch oil supplies to allies. U.S. lawmakers lifted a 40-year-old crude export ban in late 2015, allowing producers to push oil extracted from shale rocks in West Texas, Oklahoma and North Dakota into European and Asian markets dominated by the Organization of Petroleum Exporting Countries and other U.S. rivals like Russia. Quote Share this post Link to post Share on other sites
pinto + 293 PZ July 25, 2018 Evidence of a tight market. Also puts any worries about China tariffs on oil to rest. If China hits oil there will just be a juggling of supplies. Quote Share this post Link to post Share on other sites
franco + 96 FM July 25, 2018 I don't know to much about this, but according to media reports they only track 2.1million out of 4.1mb. Betting on quite a bit of rest to Exxon refinery in Trecate italy and through Trieste to its Karlsruhe refinery in Germany. The Vitol cargo may get discharged in France for their cressier refinery. Quote Share this post Link to post Share on other sites
Pavel + 384 PP July 25, 2018 Italy Was 2nd Largest U.S. Crude Buyer in April. Italy imported 7.45m bbl of U.S. domestic crude in April, up 25% from March, becoming the second-largest buyer of American oil after Canada, according to U.S. Census Bureau and EIA data.... Quote Share this post Link to post Share on other sites
Petar + 76 PP July 25, 2018 So a recession in Italy will have a direct impact....Btw. Italian growth is already among the weakest in Europe.... Quote Share this post Link to post Share on other sites
Dan Warnick + 6,100 July 25, 2018 1 hour ago, Petar said: So a recession in Italy will have a direct impact....Btw. Italian growth is already among the weakest in Europe.... Italy was out of recession? Quote Share this post Link to post Share on other sites