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Sour crude prices weaken in Asia despite OPEC+ cuts

Middle East crude prices in Asia fell to their lowest level in months, despite OPEC+ production cuts, traders said, as Asian refiners held back spot purchases and China and India binged on cheap Russian oil.

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VLSFO market structure firms; Singapore inventories at six-month low | Hellenic Shipping News Worldwide

VLSFO market structure firms; Singapore inventories at six-month low | Hellenic Shipping News Worldwide
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REFINERY NEWS ROUNDUP: China s April throughput downs; Shenghong starts up | Hellenic Shipping News Worldwide

Chinese refiners’ crude throughput in April slumped 10.5% year on year to a two-year low of 12.66 million b/d as COVID-19 lockdowns reduced oil demand, National Bureau of Statistics data showed. The April throughput fell 8.6% from 13.85 million b/d in March, and was below the January-February average of 14.04 million b/d. Meanwhile the 320,000 .

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REFINERY NEWS ROUNDUP: China reduces inflow of Russian crude | Hellenic Shipping News Worldwide

China’s reliance on Middle Eastern crudes grew sharply in the first quarter of 2022, as the country reduced inflows from Russia, Brazil and the US, data from the General Administration of Customs showed April 20. The Middle Eastern crude deliveries rose 4.8% to 5.6 million b/d in Q1, taking a 53.8% market share in the .

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Plants in China reduce April throughput | Hellenic Shipping News Worldwide

Chinese refineries will slash throughput in April and lift oil product exports from initial plans to compensate for falling domestic demand due to COVID-19 lockdowns. As a result, 10 refiners from the 11 polled Sinopec and PetroChina refining sources said they have cut their April throughput by 30,000-100,000 mt from their initial planned volumes or .

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