At least one refiner considering delaying June loading term cargoes Domestic sales dropping 20% from COVID-19 Refiners at dilemma despite low oil price Japan could see roughly 13 million barrels of surplus crude supply over domestic demand in June amid plummeting petroleum consumption in the midst of the coronavirus pandemic, pressuring refiners to delay some of their term supply after June, according to S&P Global Platts calculations based on industry information. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At least one Japanese refiner confirmed it is considering delaying some of its term crude cargoes loading in June after making adjustments in its spot procurements. Another Japanese refiner is adjusting its supply and demand balance through cutting back its spot crude procurements for June, coupled with reduced term supply from an OPEC producer, following the recent output cut announced by producing countries, a company […]