May 21, 2024 08:40 GMT
Russian ESPO Pivots Towards India
OIL
Russian ESPO Blend has pivoted away from Chinese independent refiners towards Indian refiners in recent months according to Vortexa. (See chart)
- China’s independent refineries’ CDU capacity utilisation rates have been trending downward mainly due to maintenance and weak refining margins according to OilChem mid-May.
- CDU capacity utilisation rates at Teapots averaged 57.61% in the week to May 16, down 1.07 percentage points on the week.
Source: Vortexa
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