A lighter crude containing less sulfur than a typical Middle East crude named for the pipeline East Siberia Pacific Ocean or ESPO.
Market changes as a result of the pipeline include Russia looking East for crude oil sales rather than West to Europe. Some reported substitution in Japan of ESPO over Oman from Middle East, sales to West Coast of North America in competition with Alaskan crude. This crude could become very popular as the basis is already tightening.
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