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Oil Supertankers Headed to China Jump to Highest in Year

OIL

Supertankers taking crude to China surged to a near year-high, according to Bloomberg.

  • 124 supertankers are signalling China as their destination in the next three months.
  • China’s oil processing has risen to a five-month high amid robust fuel demand during the Lunar New Year.
  • Refiners are also rebuilding stockpiles before seasonal maintenance.
  • A second oil product export quota is also expected to be released some time in April, according to OilChem.

Source: Bloomberg

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