Asia will be able to absorb increasing amounts of crude oil not needed by the U.S. in the years ahead, providing an important outlet for oil suppliers in several regions.
With new technology having unlocked vast quantities of North American crude and natural gas previously trapped in shale rock beds, oil suppliers accustomed to selling to the U.S. are already having to search for new customers.
They are finding buyers in Asia—particularly China and India. Insufficient Asian reserves and relatively strong economic growth in parts of the region should ease worries among African, Latin American and even Middle Eastern oil producers that they might struggle, or have to offer deep discounts.
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