As Saudi Arabia and Russia grapple with both the geopolitics and economics of continuing or stopping their one and a half year long oil production cut reached between OPEC and non-OPEC members in early 2017, U.S. oil exports are slowly making their way into Asia. American companies will export some 2.3 million barrels per day (bpd) of oil next month and over half of that (1.3 million bpd) will find their way to Asian markets, Reuters said , citing a key executive with an U.S. oil exporter. This follows a record 2.6 million bpd of oil that the U.S. exported just two weeks ago. Increased oil exports into Asia come as the price differential between global oil benchmark Brent crude and U.S. benchmark NYMEX-traded West Texas Intermediate widens. That price differential is currently around $9 per barrel, offering arbitrage opportunities for producers and huge savings for Asian refiners who […]