As crudes from every region compete for market share in Asia-Pacific, refiners are gaining influence over the pricing mechanisms they prefer. Price discovery increasingly takes place at the delivery point, and while Shandong pioneered this trend, larger refiners elsewhere in China, India, South Korea and Southeast Asia aim to align the pricing of Atlantic basin imports with Middle Eastern supplies. 

In this episode of The Crude Report, Argus vice presidents Alejandro Barbajosa and Tom Reed discuss how these market players are focusing on the total value of cargoes, including freight costs. 

Related links:

• Argus China Petroleum