Sinopec, the biggest Chinese refiner, bought ZERO Saudi crude for a 2nd straight month.
Either there is a global rebalancing taking place or the Saudi’s are taking a hit https://x.com/jackprandelli/status/2065002066091622441 h/t Emeraldlight
Independent thinking for complex markets and current events
Either there is a global rebalancing taking place or the Saudi’s are taking a hit https://x.com/jackprandelli/status/2065002066091622441 h/t Emeraldlight
NEW DELHI/SINGAPORE, – India’s Reliance Industries, operator of the world’s biggest refining complex, has purchased 5 million barrels of Iranian crude, days after the U.S. temporarily removed sanctions on the oil, three sources familiar with the matter said on Tuesday. The Indian refiner bought the oil from the National Iranian Oil Co., two of the …