Japan’s Cosmo Oil has purchased a US crude oil cargo, the first by a buyer in the country since the 40 year ban on US crude exports.
The cargo, which will be shipped from the US in mid-to-late February, could be the first to arrive in Asia.
Sinopec has also purchased US crude, which is expected to be loaded from a Gulf Coast port in the coming months.
Cosmo Oil will load about 300,000 barrels of US crude and 700,000 barrels of US condensate in the one cargo.