Reuters: PetroChina, Sinopec to ship 2M-plus barrels of U.S. oil in December

|About: PetroChina Company Limited (PTR)|By:, SA News Editor

PetroChina (PTR -1.5%) and Sinopec (SNP -1.3%) trading arms have chartered ships to load more than 2M barrels of U.S. crude oil in December, Reuters reports.

The shipments come on top of nearly 3M barrels that BP has sent to Asia, as oil traders sell growing supplies of cheap U.S. shale oil and take advantage of an arbitrage between cheaper WTI crude and the Brent global benchmark as well as low freight rates.

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