GC light crude may rise internationally

SINGAPORE - Demand for American light-sweet crude is set to rise amid changes in international sulphur specifications for refined products like fuel oil, while shale producers drill for more crude, according to Brent Secrest, senior VP at Enterprise Products. U.S. crude oil production spiked after the shale oil revolution of the late-2000s, leading to a glut in domestic crude supplies. American refiners are geared towards processing heavier crude with higher sulphur content. EP exports some 100,000 barrels per day of crude oil from the U.S. Gulf Coast. More American crude oil exports are expected because U.S. refiners aren’t looking to change refinery configurations to accommodate domestic light sweet crude oil, he added. The new sulphur specification for shipping fuels, set to begin in 2020, is set to boost demand for U.S. crude with lower sulphur content. The International Maritime Organization's tightened sulphur-crude shipping requirements begin in October. (Source: Reuters 09/25/17)