Asian refinery activity boosts oil derivatives trading
The growing market clout of refiners in Asia is giving the region a healthy boost in trading activity for derivatives linked to oil and other refined products. With local refining capacity set to grow, the trend looks likely to continue – a development that might assist the rise of new contracts
Asia’s rising economic fortunes have been greatly lubricated by the flow of thick, sticky crude oil. In December 2012, China imported an average of 6.12 million barrels per day (bpd), overtaking the US as the world’s biggest importer of crude, according to the US Energy Information Administration. Now, the continent’s insatiable demand for crude oil and its resulting products is helping to foster an increase in the volume of derivatives trading activity in the region – with local refiners
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