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Further China Crude Stocks Builds Expected: Vortexa

OIL

China’s crude stocks keep building on strong imports against slow consumption and is expected to extend gains in coming weeks, but oil majors may cut crude loadings due to multi-year high inventories according to Vortexa.

  • China’s HSFO/RFO imports decline amidst ongoing non-crude cargo inspections, but Russian imports remain robust.
  • China’s diesel exports remain capped amidst weak regional cracks and high Singapore inventories.
  • Asia’s gasoline/ blending component exports to the US and Central America climb on seasonal demand.


Source: Vortexa

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