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2 clusters · 8 sources · 10 days · First seen · Last updated
Asian crude oil supply diversification
Overview
Geopolitical tensions and maritime security risks in the Middle East, including blockades in the Red Sea and disruptions to Iranian oil exports, have forced Asian refineries to diversify their crude oil procurement.
Following a blockade by Sana’a forces on Saudi Arabian exports from Yanbu, flows to Asia dropped from 5 million barrels per day to under 2 million. In response, refineries in Japan, South Korea, and China have increased purchases of Argentine ‘Medanito’ crude, which is noted for being cheaper than US West Texas Intermediate and avoiding major maritime chokepoints. The Americas' share of seaborne crude exports to Asia rose from 23% in 2025 to approximately 30% in 2026.
Refiners in Singapore and Chinese independent ‘teapot’ refineries are also aggressively seeking alternative supplies from West Africa, Latin America, Canada, and the United States. These shifts in procurement have reportedly driven spot premiums to multi-month highs and contributed to rising Brent crude prices.
Entities
Aramco · PetroChina · Glencore · Aster Chemicals and Energy · Trafigura
Timeline
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1 day ago
[BUSINESS] 3 sourcesAsian refiners diversify crude oil sources amid Middle East disruptionsAsian refiners, including those in Singapore and China, are diversifying crude oil supplies toward West Africa and the Americas to mitigate risks from Middle Eastern supply disruptions.
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11 days ago
[BUSINESS] 5 sourcesAsian refineries shift to American and Argentine oil amid Middle East supply disruptionsAsian refineries are turning to American and Argentine crude to replace Middle Eastern supplies disrupted by maritime blockades and regional conflict, significantly shifting global oil trade routes.
Sources
africa.businessinsider.com · alaraby.co.uk · albiladpress.com · boereport.com · cryptobriefing.com · okazalyoum.com · ttnews.com · yemeneco.org