Equity Tips – US oil Export To India Will Increase Jobs

Export of American crude oil to India will create jobs, economic stability and national security in both countries, US Energy Secretary Rick Perry has said, days after the first ever shipment of US crude oil landed in Odisha.
 
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The shipment, loaded at Saint James, Louisiana and Freeport, Texas terminals last month, docked at Paradip port in Odisha on October 2.
 
US crude oil shipments to India have the potential to boost bilateral trade by up to USD 2 billion.
 
"Not only does this week's shipment demonstrate the strength of the US-India bilateral relationship, but also how our relationship with India continues to benefit the American economy," Vajda said.
 
Buying US crude has become attractive for Indian refiners after the differential between Brent (the benchmark crude or marker crude that serves as a reference price for buyers in western world) and Dubai (which serves as a benchmark for countries in the east) has narrowed.
 
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Equity Tips – US oil Export To India Will Increase Jobs

 

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