Oil & Gas
Added Jan 27, 2021

Global Crude Arbs To Watch: January 2021

Share this article

Global Crude Arbs To Watch: January 2021

Chart 1: US Exports: Asia Vs Europe

  • The shifting dynamic between US crude/condensates exports heading to Asia vs. Europe is a key arb to watch going into 2021 and, for the rest of the year. 
  • Notably in Europe, weaker crude intake from the region's refineries in early 2021, due to gloomier prospects for road fuel demand, is already depressing transatlantic flows, compared with those seen several months ago. 
  • Read more in our '2021 Trends to Watch in US Energy' special report 

Chart 2: North Sea and Russia Black Sea arrivals into Asia

  • Asian imports of North Sea and Caspian CPC Blend crude combined reached a multi-year high of over 1.1mn b/d in January, representing fiercer competition against Mideast Gulf grades.
  • Recent limited appetite from European/Mediterranean buyers, along with weaker freight, supported a sharp jump in long haul flows. 
  • Read more in our recent Insight note 'More CPC Blend to sail to Asia in Q1 2021'

Chart 3: MEG vs Russia seaborne exports to Asia

  • Notably Russian seaborne (excl. CPC) exports to Asia have been remarkably stable at around 1-1.1mn b/d since September 2020, compared to more volatile monthly shipments from MEG crude exports to Asia. 
  • In particular, Chinese crude import demand and the evolution of OPEC+ production cuts will be played out across MEG-Russia crude export dynamics, meaning it remains a top arb to watch in coming months. 

The latest news

Jun 9, 2021
Data Science & Technology
blog-events
name
Listing_Summary-Vortexa_July2019

On the 27th May, Product Specialist Amy Lees and Machine Learning Engineer Christos Hadjinikolis analysed the quality of crude imported into the ARA region, a key refining hub in Northwest Europe, using Vortexa’s Software Development Kit (SDK). This blog investigates further into their methodology.

subscribe_insight-form
blog-tag
location
banner_bg
getintouch-section
post_body
Apr 29, 2021
OIl & Gas
blog-events
name
Listing_Summary-Vortexa_July2019

Claims from top trading houses and research analysts that oil demand is set for a roaring comeback as soon as this summer has divided market experts. Vortexa weighs in.

subscribe_insight-form
blog-tag
location
banner_bg
getintouch-section
post_body
Apr 28, 2021
Event News
Listing_Summary-Vortexa_July2019

On 27th April 2021, industry leaders and expert analysts from Vortexa, ZE PowerGroup, Argus Media and Windward discussed the rise of analytics and their impact on freight and energy markets.

blog-tag

Get in touch today for a free trial