The volume of floating crude cargoes in Chinese waters has hit a record high, dampening Chinese refiners’ buying interest in August-onward deliveries, refiners and analysts said July 2. Receive daily email alerts, subscriber notes & personalize your experience. Register Now There were 42.98 million barrels of crude on tankers idled in Chinese waters for 15 or more days in the week beginning June 29, trade flow and inventory tracker Kpler said July 2. The volume was 41.6% higher than the previous record of 30.36 million barrels set just the week before. The volume of cargoes in Chinese waters for over 15 days has been consistently setting fresh highs since May 18-24’s 11.58 million barrels. By contrast, before 2020, the highest volume left afloat for more than 15 days in Chinese waters […]