Oil Tankers Wait Offshore as Russia Redirects Barrels to China
Market Intelligence Analysis
AI-PoweredOil tankers carrying up to 12 million barrels of crude oil are waiting offshore in East Asian waters, primarily due to India's reduced demand, with some vessels signaling 'for orders' or 'China for orders', indicating a potential shift in destination to China.
Market impact analysis based on bearish sentiment with 80% confidence.
Article Context
Tankers carrying a total of up to 12 million barrels of crude oil are either en route or close to China in East Asian waters, waiting for buyers in the world’s top crude importer, as India is pulling back. Five of these tankers signal ‘for orders’ or ‘China for orders’ as their status, per data intelligence firm Kpler cited by Bloomberg on Friday. ‘For orders’ typically means the cargo doesn’t have a destination port or buyer. Six other vessels are en route to offshore Singapore…
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