China ramps up crude processing as margins improve Asian refiners back from maintenance Strong demand push Oman, Russian ESPO, Sokol to 11-mth high Supply tight as Europe, Africa, U.S. crude to Asia uneconomical SINGAPORE, June 16 (Reuters) – Asian refiners are paying the highest premiums for Middle East and Russian crude oil in about a year, due to firm demand and more costly imports from the West, industry sources said. High prices could prompt refiners to draw down inventories, tightening supply buffers even as the Organization of the Petroleum Exporting Countries (OPEC) and their allies including Russia gradually ease supply cuts. Several popular grades in Asia, such as Oman, Russian ESPO and Sokol crude, are […]