Reuters: Refineries in North Asia are reducing the volume of oil purchases from the Middle East.

Reuters: Refineries in North Asia are reducing the volume of oil purchases from the Middle East.

The Reuters news agency reported, citing sources with knowledge of the matter, that at least three refiners in North Asia plan to reduce the volume of purchases of crude oil from the Middle East in 2027 contracts and instead increase purchases of oil from other regions.

According to knowledgeable sources, this decision was made following a disruption in the supply of oil caused by the Iran war and the conflict in the Strait of Hormuz this year.