Kuwait has not sent any crude oil to the United States for at least four weeks, EIA’s weekly petroleum reports for the last four weeks, which also include a weekly comparison, have revealed. The last week that saw Kuwaiti crude coming into the United States was August 24th, when 49,000 bpd were received at U.S. ports. This compares with 214,000 bpd a year earlier, suggesting that Kuwait is reorienting itself to the more lucrative Asian markets, Bloomberg reports , having calculated that Kuwaiti crude costs an average of US$80 a barrel in Asia, which is a dollar more than it costs in the United States. Kuwaiti oil is predominantly high-sulfur, which is what a lot of Asian refineries prefer to process and are willing to pay more for it, a source in the know told Bloomberg, asking to not be identified. So far so good for Kuwait, which is […]