America's WTI crude unqualified to enter Sri Lanka due to lack of price competitiveness

As part of Sri Lanka's decision to reduce the trade gap with the U.S., the Sri Lankan government decided to include WTI crude when calling for tenders periodically for imports

- KELUM BANDARA

Despite Sri Lanka's decision to import crude oil from the United States, its WTI (West Texas Intermediate) crude has not qualified to enter the Sri Lankan market because it is not price -competitive this time, an official said.

However, the Ceylon Petroleum Corporation (CPC) remains hopeful that WTI crude would become competitive for Sri Lanka to import in the near future.