# Arab News | Physical oil market tightens as refiners scramble for crude

> US refineries processed about 17.3 million barrels of crude per day in the latest week, 620,000 bpd above a year earlier, and demand for gasoline and diesel rose from Latin America. Saudi Arabia has restricted exports and plans to ship less than 6.6 million bpd in August, the lowest for that month since 2010. OPEC exports have risen from Libya and Nigeria, which are exempt from the production deal.

- Date: 2017-07-29 · published 2017-07-29T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/70159-arab-news-physical-oil-market-tightens-as-refiners-scramble-for-crude
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Tightening physical crude and strong refined-fuel demand point to firmer prices for crude and diesel, raising fuel costs for feed logistics.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Sources

- arabnews.com: https://www.arabnews.com/business/physical-oil-market-tightens-as-refiners-scramble-for-crude-1136126

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.