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The podcast discusses the recent decline in Middle East sour crude prices amid global oversupply and shifting trade flows. Argus crude experts explore the impact of OPEC+ production changes, alternative crude sources, and the effects of sanctions on market demand.
Main topics:
- OPEC+ production increases and their effect on the Middle East sour crude oversupply
- Shifting demand patterns due to sanctions on Russian oil and increased competition from Brazil, Canada, and Guyana
- Pricing strategies and market share defense by Middle East producers in response to global competition
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