Thu, 22 Mar 2012 02:18:02 CDT
The world's largest oil exporter, Saudi Arabia's state oil firm Aramco, is expected to import higher-than-usual volumes of gasoline and gasoil to plug a supply shortage caused by refinery maintenance and firming demand ahead of summer season, Reuters has reported, citing traders. The refiner has been aggressively seeking gasoil and gasoline in the spot market after having already bought 20% more gasoil for March. Its gasoil imports for April are expected to be even higher than March, traders added. As for gasoline, traders are expecting the volumes to be between six and nine cargoes for April alone. "That's quite a huge amount for gasoline for a month," said a trader.
Read full article at: ameinfo.com