Barkindo: Middle East to hold its position as main crude oil supply source for Asia

The Middle East will hold its position as the main crude oil supply source for Asia, a key region for global oil demand growth, despite increasing supplies from the US, OPEC Secretary General Mohammed Barkindo told S&P Global Platts, Report informs.

"Of course, with the increase in US production, the US has become a new exporter to Asia, with currently over 1 million b/d in crude exports. However, US export levels still remain far below levels seen from the Middle East," Barkindo said.

In addition, the OPEC Secretary General noted that growing oil demand in Asia will have to be met by various regions, however, the Middle East will continue to be the main source of energy supply."