OP Paraskova Article : China's Sinopec to refuse up to 8 April Saudi tanker deliveries = 16 mm bbl. Not good for Saudi marketshare war.

[BLA + 1,666]

China teapots report very large discounts on Russia's Urals crude oil.  It's also delivered via much less expensive Eastern Siberian Asia Pacific pipeline compared to the increasing tanker rates due to their usage as storage.

A portion of these orphaned Saudi tankers are already in route and will need a home.

Saudi trying to enforce Sinopec contract is fruitless.  Nothing Saudis can do. 

https://oilprice.com/Latest-Energy-News/World-News/Chinas-Top-Oil-Trader-To-Cancel-Middle-East-Crude-Imports.html

Edited March 13, 2020 by BLA

[El Nikko + 2,145]

1 hour ago, BLA said:

China teapots report very large discounts on Russia's Urals crude oil.  It's also delivered via much less expensive Eastern Siberian Asia Pacific pipeline compared to the increasing tanker rates due to their usage as storage.

A portion of these orphaned Saudi tankers are already in route and will need a home.

Saudi trying to enforce Sinopec contract is fruitless.  Nothing Saudis can do. 

https://oilprice.com/Latest-Energy-News/World-News/Chinas-Top-Oil-Trader-To-Cancel-Middle-East-Crude-Imports.html

The Saudi's are off to a great start aren't they? their extra supply soon to be floating round the world with no buyers