7 days ago
China's Soft Saudi Oil Buying Implies Trade Rerouting, EA Says
Chinese refiners are asking for less oil from Saudi Arabia, with the drop possibly pointing to a reshuffle of global flows as more Russian crude becomes available, according to Energy Aspects Ltd.
The drop in so-called nomination for September-loading term cargoes from Saudi Aramco indicated refineries were holding back from purchases given the greater availability of Russia's Urals, as well as comfortable stockpiles, the London-based consultant said in an Aug. 11 note, without citing anyone.
