Even though the election of president-elect Jair Bolsonaro has generated anti-Chinese rhetoric in Brazil, strong economic ties between the two countries means divorce is unlikely.Continue Reading
The VLCC Tianjin left the Corpus Christi lightering zone in the Gulf of Mexico on June 19 with nearly 2.1 million barrels of US WTI / Midland WTI crude on board. It has just discharged its cargo at Reliance's Jamnagar refinery in India, sneaking in before the end of the July to mark a record month of deliveries of US barrels to India.Continue Reading
Tensions were already running high betwixt the U.S. and China before trade threats were ratcheted up once more this week. As we know all too well, all paths lead back to energy: hence commodity flows will likely feel the brunt of the current collywobbles.Continue Reading
We recently discussed Iraqi flows to the U.S., and how they continue to exhibit strength. Iraqi flows to the U.S. last year averaged just under 600,000 bpd, up a third from 2016's volume. While January deliveries were robust, clambering above 700,000 bpd, they were even more impressive to Asia, rising to a record.Continue Reading
CNBC published an article late last week based on our ClipperData, highlighting how deliveries of U.S. crude grades into China climbed to a record in November.
As U.S. crude and product export markets evolve, new patterns in loadings, destinations, grades and purchasing present themselves in our granular data.Continue Reading
It's good to see Saudi Oil Minister Khalid Al-Falih jumping on the tanker-tracking train (well, you know what I mean), highlighting that participants in the OPEC / NOPEC production cut deal need to reconcile production with exports, and that oil exports are now the key metric to monitor. (Come on in, the water is fine!).Continue Reading