Retrieved from Institute of Americas
Brazil’s Lula crude is slowly replacing Venezuela’s Merey and Mexico’s Maya crudes as the flagship grade from Latin America in Asia. Brazilian oil is lighter and sweeter than rival grades in Latin America, and the price is closely tied to global benchmark Brent crude. Traders were last week offering Lula for delivery in China at a premium of about $3 per barrel above Brent LCOc1, according to two sources. Full Text-> Oil&Gar360
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