(MENAFN) Europe is expecting two crude oil cargoes coming from Emirates, as European refiners are struggling with scarce sour oil sources, reported the Peninsula Qatar.
Two crude cargoes are planned to be delivered in August, as Phibro will ship 1 million barrels of medium sour Upper Zakum to Litasco, and another 1 million barrels of light sour Murban will be shipped from Total to the Mediterranean.
This movement was seen as "rare" by many traders, however one regional trader said: "Sours are still weak in the east, while in the Mediterranean there has been an acute shortage," ,which has facilitated such movement.
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