Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

The world’s biggest oil buyer landed 1.95 million b/d of Saudi crude in September, the highest level since last November. The volumes exclude at least 10 million bbl of Saudi crude floating offshore recently, temporarily stranded by a logistical bottleneck at the country’s largest refinery. Imports of Oman-origin crudes leapt by 241,000 b/d from August to 1.02 million bbl of in September, the highest level since last November. What is unusual is how China managed to import much more Oman-origin crudes than what Oman was actually able to produce. Oman produced just 789,000 b/d of crude in August and 812,000 b/d in September. China also landed 469,000 b/d of Malaysia-origin crude in September, the highest level since September 2019. Again, Malaysia only produced 420,000 b/d of crude in August and an even lower 389,000 b/d in September. Cargoes from Oman and Malaysia have been implicated in either being repackaged Iranian crudes or blends that include Iranian liquids.

Crude Oil, Oil Demand
Wanda Ad #2 (article footer)
Mounting risks threaten a predicted loosening of LNG markets by 2026, as the industry copes with cost inflation, labor shortages, construction delays and other challenges.
Thu, Sep 28, 2023
The heads of the IEA, ECB and EIB discussed how Europe can avoid falling behind its competitors in the transition to low-carbon energy.
Fri, Sep 29, 2023
The EIA's latest Petroleum Supply Monthly shows that US crude output averaged just shy of 13 million b/d in the seventh month of the year.
Fri, Sep 29, 2023