There's a new kid on the block, muscling in on crude sales to China. Sales averaged 131,000 barrels a day in the period, but over the last four months the daily average figure exceeded 200,000 barrels. While the volume in storage in the U.S. is coming down, the volume held in China is still rising. That line will allow Russian producers to ship another 300,000 barrels a day of Siberian crude directly to China.U.S. oil flows to China remain vulnerable to any increase in freight costs or a narrowing of the price differential to other global benchmarks.

Source: Economic Times August 27, 2017 07:52 UTC