China’s Oil Thirst Draws an Armada of Tankers
- Ships hauling estimated 250 million barrels heading to nation
- Flows stem from all regions; Saudi exports again strong
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As Chinese oil demand rises to near pre-coronavirus levels, more and more tankers are hauling crude to the Asian nation from almost everywhere.
The number of supertankers heading to China has jumped to 127, the highest level since at least the start of 2017, and probably ever, vessel-tracking data compiled by Bloomberg show. That amounts to about 250 million barrels of oil, assuming each ship is fully laden.