Record volume of Azerbaijani oil transported to Asia this month

Baku. 13 January. REPORT.AZ/ This month record, 11 million barrels of Azerbaijan oil was sent to Asia.

Report informs referring to Reuters.

European and Chinese traders are shipping a record 22 million barrels of crude from the North Sea and Azerbaijan to Asia this month, seeking to plug any supply gap left by OPEC production cuts.

Over 11 million barrels of North Sea Forties crude have either been offloaded or are on their way to Asia, adding to a record 11 million barrels of Azeri crude oil from Azerbaijan.

"Asia needs the oil, Europe has it. The OPEC cut has raised prices, and that now makes it profitable to send European oil to Asia," said one trader.