OPEC's oil curbs grant Russia's Urals a rare ticket for South Korea

The biggest oil producers in West Asia are helping crude from Western Siberia boldly go where it’s rarely gone before.

Top South Korean refiner SK Innovation is set to receive about 1 million barrels of Urals crude in its first purchase of the Russian blend oil in a decade. The shipment was made viable because of rising costs for rival supply from West Asia, as nations such as Saudi Arabia curb output to comply with a deal between global producers.

The cargo is also another example that helps illustrate how the reductions by top OPEC members are rerouting