Running out of options
This insight paper explores Middle East oil supply pressure from Hormuz and Red Sea shipping risks, plus rising demand from China and India.
This insight paper draws on the latest analysis from two of our flagship oil market business intelligence reports, Argus Global Markets and Argus China Petroleum, and looks at the pressures building on Middle East oil supply from threats to shipping in both the strait of Hormuz and the Red Sea, and from increased buying interest from key customers in China and India.
Our analysis examines how:
- Iran is threatening to crack down on Mideast Gulf producers using shuttle tankers and ship-to-ship (STS) transfers to move oil through Hormuz
- Mideast producers are continuing to offer crude via STS tenders, seemingly shrugging off the Iranian threat
- Beijing’s relaxation in product export restrictions is starting to drive a rebound in Chinese refiners’ crude buying
- Problems with Russian crude exports out of the Black Sea are forcing Indian refiners to turn back to Middle East supply
Download the insight paper
About Argus Media
As a leading authority on energy and commodity markets across the globe, Argus is uniquely positioned to provide in-depth analysis and expert thought leadership. Our insight papers are carefully written by Argus specialists from across our company. Each white paper focuses on a topical theme, exploring areas such supply and demand dynamics, price trends, trading activity and changing regulations. We always aim to provide a balanced view, underpinned by data and insight gathered firsthand from the market.