**Chinese Oil Refinery Makes Rare Purchase**
A private Chinese oil refinery, Landbridge Petrochemical Co., has made a rare purchase of oil from West Africa instead of the usual imports from sanctioned countries Iran and Russia. This move was reported by Bloomberg on November 14.
**Changing Global Oil Market**
The global oil market is preparing for possible changes to US sanctions on Iranian oil following Donald Trump‘s election. Global banks suggest that the approach to sanctions could be stricter, which may affect oil imports.
**Landbridge Petrochemical Co.’s Purchase**
Landbridge Petrochemical Co., a small independent refinery in China, bought 2 million barrels of oil from West Africa for delivery in January. This purchase sparked interest among traders, as Chinese refineries typically import oil from sanctioned countries.
**Changing Oil Market Conditions**
The limited supply of spot Iranian oil and concerns about possible Israeli strikes on Tehran’s energy infrastructure have made other oil sources more attractive to market players. Light Iranian crude was offered at a discount, while oil from eastern Russia was offered at a premium.
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