Singapore’s fuel oil market has reached one of its tightest periods so far this year amid on and offshore inventory draws.
On 16th November, our Americas Analyst and Product Specialist team reviewed what the potential impact of the incoming Biden administration and 117th Congress will have on the global oil markets.
Australia’s refining sector has been dealt another blow by BP’s recent announcement to shut its Kwinana refinery in Western Australia, and convert it into an import terminal by early next year.
Australia’s Lytton and Geelong refineries are being threatened with permanent shutdown as the compounding impact of the pandemic on oil demand drags on. We postulate the changes on crude and refined products flows if the refineries shut.
US crude loadings to China are en course to reach a 4-month high in September, as more bookings emerge along the route for October.
On 14 July 2020, we held a webinar discussing the dynamics of US crude exports to China and what predictions we can make from the data. Watch on demand now.
Crude exports from the US port of Corpus Christi have dominated Houston's exports in the past ten months on the back of increased connectivity to the Permian and Eagle Ford basins.
Crude volumes heading to China in week 6 (w/e 9 February) held relatively steady amid limited on-the-water diversions. Vortexa also observed higher middle distillate and gasoline exports, as well as LPG diversions.
China’s seasonally high refinery runs and the recent start-up of its two new mega-refineries is reflected in its strong November clean refined products exports.
China’s seaborne crude imports are poised to maintain their momentum in November, Vortexa data show, after touching a multi-year high of over 10mn b/d in October.
China’s growing refined product exports—mainly gasoline, jet/kero and diesel types—have kept the regional market across Asia well-supplied this year.
China's crude imports from Saudi Arabia surges by nearly 45% year-on-year to 1.55mn b/d in the first seven months of this year, Vortexa data shows.