Chinese Refiners Snap Up Iraqi Oil as Gulf Supply Routes Fracture
Chinese refiners are buying Iraqi crude, with recent purchases of 8 million barrels of Basrah Heavy and Basrah Medium for prompt delivery, Bloomberg has reported, citing unnamed traders. Oil has continued flowing via the Strait of Hormuz—Iraq’s main export channel—despite the Iranian blockade, but t
Source: OilPrice.com
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DW NOTE
Chinese refiners are buying Iraqi crude because half the Gulf's export routes have been shut for 174 days and there's no credible timeline for reopening. This isn't opportunism — it's the only port still loading volume outside the Hormuz chokepoint. Supply shocks don't create diversification; they create dependency on whoever's left standing.