Asian buyers bought a huge amount of cheap American oil, which increased the likelihood of reducing demand for Middle Eastern oil, writes Bloomberg.
South Korean and Indian oil refineries in August acquired about 16 million barrels of oil in the United States, which is twice as much as during the same period in July, and a little less than the average monthly volume in the first five months of the year.
Earlier, Saudi Arabia increased oil prices for Asia to a record level. According to traders, American oil is cheaper, even taking into account freight and logistics.