11 September 2025: 16:30 BST
The number looks big – at 51 mil bbl the Saudi allocation to China for October is the same as the August allocation and 8 mil bbl up from September – so some were quick to jump to bearish conclusions! But the excess supply expected to be exported as the summer burn fades into the market’s memory. Any has been sucked up by China and there is loads of demand out there in Asia, so there shouldn’t be any overhang. The Saudis need to sell and the Chinese are happy to buy!
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.
