Russia boosts oil supplies to Asia by 25%

Gulf producers may find it a struggle to keep their share of the global oil market as Russia is boosting crude exports to Asia after upping supplies by 25 percent to China, Japan and South Korea in 2014.

Russia is the world’s third largest oil producer and has increased oil supplies to Asia to 51 million metric tons in 2014. The share of the Asian market rose to 8.7 percent last year from 7.2 percent in 2013, Bloomberg reports citing government data.

Total imports by China, Japan and South Korea, the region’s largest oil consumers, reached 592 million tons in 2014 .... http://rt.com/business