Money
Briefing: TotalEnergies made bumper profit on Middle East oil bet
Strategic angle: In March, French group bought every available cargo of crude produced in UAE and Oman for loading in May.
editorial-staff
1 min read
Updated 12 days ago
In March, TotalEnergies executed a strategic move by purchasing every available cargo of crude oil produced in the UAE and Oman, slated for loading in May.
This acquisition reflects a calculated approach to leverage Middle Eastern oil supplies, which are critical for sustaining throughput in global markets.
The implications of such a purchase extend beyond immediate profits, potentially influencing market dynamics and supply chain strategies within the oil sector.