Infographic: Asian appetite for US crude grows despite India dropping off

The US crude market share in Asia grew to a record 7% in Q2 this year, up from an average of 5.8% in 2022, despite former major importer India shifting towards cheaper Russian sources amid sanctions. However, players like Taiwan and Thailand have filled the gap left by India as they stepped up North American crude arbitrage trade in recent months, marking a move away from Middle Eastern sources amid supply tightness due to production cuts.

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