Russian energy flows not yet under US sanctions despite invasion China’s 2022 crude import growth seen at 536,000 b/d: Platts Analytics China may look for spot market bargains if other buyers shy away Chinese buyers of spot Russian crude are temporarily refraining from closing deals following uncertainty around shipping, but Asia’s biggest oil consumer has the appetite to absorb incremental cargoes if other buyers decide to cut purchases from the leading European supplier, according to analysts, traders and refiners who spoke to S&P Global Platts.
While US President Joe Biden has stopped short of targeting the energy sector in the latest sanctions against Russia amid efforts to avoid disruptions to energy supplies, sources said Chinese buyers will be watching the situation for a little longer before jumping to conclusions. “The impact on crude flows […]