Chinese Refiners Buy Rare North Sea, Guyana Crude at Low Prices

Chinese independent refiners have snapped up rare crude grades from the North Sea and Guyana at low prices in an oversupplied market after the coronavirus pandemic destroyed demand, four sources with knowledge of the matter said on Tuesday.

The North Sea grades bought included Balder, Flotta, and Chestnut crude, while Guyana’s Liza crude was sold into China for the first time, the sources told Reuters.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.