Supertanker Rerouted: US Sanctions Shake Up China's Oil
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US Sanctions Force Major Sinopec Rerouting: A supertanker carrying two million barrels of crude was diverted after the US slapped sanctions on China's Rizhao terminal, a key Sinopec hub. Now headed to Ningbo and Zhoushan, this rerouting is just the tip of the iceberg, with experts predicting Sinopec could cut crude processing by over 3% as they scramble to adapt to the new restrictions on Iranian oil. Will this trigger wider supply issues and price hikes in China's oil markets?The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
