the

What Makes The Price Of Oil Go Up And Down?

u.s. crude exports have been picking up

for some time we've had a we had an

export sort restrictions not quite a ban

in place for years and years and just a

couple years ago that restriction was

lifted and US crude producers have been

increasingly shipping their crude to

European refiners and now to Asia as

well which is really interesting and

they have a lot of different buyers

throughout the world that are kind of

picking up bits and pieces of US crude

to test it out in their refining systems

to see if they like it and then if they

do like it what they'll start doing is

bringing over more and more sort of

terming it up what we think is really

interesting is that you know the

European refiners which traditionally

were bringing in crude from Nigeria

which is fairly short haul right it's

right down the street so to speak are

now bringing in some US crude and that

US crude is making its way all the way

over to like India and China you know

where you'd think well it's a long way

to go right to bring your crude over

can't they find crude more locally they

can but some of these refiners really

like that quality occurred they think

it's a good fit for their petrochemical

industry the the biggest market that

people are looking at right now is Asia

that's where we see growth that's where

like people at zero week we're talking

about you know a big increase in Asian

demand Chinese demand is still driving

global demand largely Indian demand is

still driving a global demand for for

oil so we're seeing increasingly more

crude heading to China and and to India

and I thought what was interesting this

week is that some Indian oil companies

we're talking about investing in US

crude production so not just taking the

crude not just buying the crude but

maybe getting into the production itself

as a way to secure that supply