VOL. XXXVII

NO. 18

31-JANUARY-1994

Dubai Market

Japanese Buying Impacts Dubai Market

Bereft of extra term allotments of heavier grades from traditional MiddleEast crude suppliers and spurred on by historically low absolute price levels,Japanese end-users have been turning in increasing numbers spot-traded Dubai.MEES understands that over the last few months Japanese refiners have taken asmany as five to six Dubai cargos a month, almost double normal levels. Thedevelopment is significant in that...