11 July 2025: 09:30 BST
51 mil bbl crude oil Saudi allocation to China stuns the market! That’s the biggest monthly allocation since we began publication of The Officials – and even in recent memory beyond that! That’s up 4 mil bbl, with all except Unipec receiving a repeat of previous month’s allocations – and Unipec’s surged from 11 mil bbl to 15 mil bbl! “Why are they doing that?” asked another refiner. A source speculated Unipec is selling more oil into tea pots and another said that oil and premiums for oil loading in August are still ‘cheap,’ when compared with those forecasted for September.
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.
