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At Least 10 Caspian CPC Cargoes to Asia in Feb

OIL

At least 10 Caspian CPC Blend cargoes are heading for Chinese and South Korean refiners in February according to Bloomberg.

  • China has bought around six Suezmax cargoes and South Korea at least four
  • The CPC February loading program is expected to be released later this week
  • The total volume to Asia is roughly in line with the 2022 monthly average according to tanker tracking data
  • CPC crude discount to Dated Brent is stable around -3 to -4$/bbl compared to about -6$/bbl a month ago according to Bloomberg sources.

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