Aramco markets 10m barrels to China
Saudi Aramco announced that it has sold at least four million barrels of crude oil that were loaded outside the Strait of Hormuz to two Chinese refining companies, PetroChina and Sinopec, with premiums. These sales come as part of the company's efforts following the restart of oil loading from inside the Strait of Hormuz last week, after a temporary halt lasting weeks due to attacks on its ships and escalating tensions between the United States and Iran. It has also been reported that additional shipments of oil have been sold through private negotiations with Asian refineries, with intentions to sell larger quantities. This performance reflects Aramco's recovery to its pre-escalation activity following the recent tensions.
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