economy
March 20, 2026
US sells Asia three-year record volume of oil amid Iran conflict
Asian countries have increased purchases of US oil for April delivery to around 60 mln barrels
TL;DR
- Asian countries have purchased a record volume of US oil for April delivery.
- The increased purchases are attributed to disruptions in energy supplies from the Persian Gulf due to the conflict with Iran.
- Approximately 60 million barrels of US oil have been purchased for April delivery, the highest monthly level since April 2023.
- US oil purchases will not provide a quick solution to supply disruptions for Asian countries like South Korea, Singapore, Thailand, and Japan.
- Cargoes typically take about two months to reach their destinations.
- The situation is driving up prices for US energy resources.
- The United States typically exports around 110 million barrels of oil per month, with a significant portion going to Asia.
- Asian buyers purchased about 70 million barrels of US oil in the first two months of the year.
Continue reading the original article