The tightening supply talk meets a flood of Asian fuel
Tom KirkmanIndependent Project Manager
Hey, you see all that talk of tightening oil supplies that are supposed to justify a bull run stampede toward triple digit oil prices?
Here ya go. Time for a bull riding rodeo.
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“As China sends a flood of fuel abroad, a giant project in Southeast Asia that’s backed by Saudi Arabia is set to add to the regional deluge.
State-run Saudi Arabian Oil Co. is helping finance a $27 billion refinery and a petrochemical complex in Malaysia’s southern state of Johor. The project, known as Refinery and Petrochemicals Integrated Development, or RAPID, will add a new stream of fuels near Asia’s main oil trading hub of Singapore at a time when China continues to unleash record amounts of diesel and gasoline onto the global market. …”