Asia-Pacific trade patterns to influence OPEC strategy

Changing oil-trade patterns in the Asia-Pacific region will influence strategy of the Organization of Petroleum Exporting Countries and, by association, the oil-price outlook worldwide.Top executives from two oil companies active in the region told the Middle East Petroleum & Gas Conference last week that the outlook remains gloomy for Asia-Pacific refiners.Paul Skinner, group managing director and CEO, oil products, for Royal Dutch/Shell Group, described how regional market shifts have global effects.The Asia-Pacific market share claimed by Middle Eastern exporters, he said, will increase to 70% of total supply in 2010 from 40% in 2000 as worldwide demand increases to 92 million b/d from...

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