Chinese Refiners Boost Iraqi Oil Buys Amid Falling Iranian Flows
Chinese independent refiners are increasing purchases of crude oil from Iraq and Qatar for October and November, aiming to replace declining supplies from Iran. This shift occurs as exports from other Gulf producers through the Strait of Hormuz show recovery.
Chinese independent refiners increased crude purchases from Iraq and Qatar for October and November delivery as Iranian supplies dwindled, traders said. Exports from other Gulf producers through the Strait of Hormuz have recovered, helping offset the weaker Iranian flows, according to traders.