Heavy Oil Glut in Americas Triggers Scramble for Barrels in Asia and Europe
A surplus of dense heavy crude is building in North and South America as high freight costs curb exports, while Asian and European refiners face supply shortfalls and benchmark prices above $100 per barrel. US refineries operate at 93.5% capacity and the U.S. has released over 130 million barrels from its emergency reserve.
Source: Heavy Oil Glut in Americas Triggers Scramble for Barrels in Asia and Europe — Channel News Asia
A daily AI-made news meme from Jester · Oct 12, 2026.
Topics: oil · energy · markets · asia · europe
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