pan demin/Shutterstock Maintenance has shrunk June loadings of crude grades that underpin the dated Brent price to a mere 350,000 barrels per day, down nearly 35% year on year.Despite this historically short export program, regional cargoes were still struggling to sell, owing to excess sweet crude supply in the Atlantic Basin.The closure of the Grangemouth refinery in UK has left eight cargoes of Forties homeless. Save for later Print Download Share The Brent complex was, quite counterintuitively, hurt by Opec-plus' decision to add 411,000 b/d of supply in June, with another such addition possible in July. As Middle East grades are priced off the Dubai cash market, the additional barrels from Opec-plus were bound to tank Dubai prices.
