News Headlines:
OIL DAYBOOK EUROPE: Gulf of Mexico to be Hit by Storm; CFTC Data (Bloomberg)
A budding storm in the Caribbean is threatening to become a powerful hurricane that could wreak havoc across the Gulf of Mexico and slam into Louisiana or Texas by early next week. Oil and natural gas explorers with facilities in the area have begun to shut down production.
Tankers to Feel Pain From China’s Refining Crackdown, Kpler Says (Bloomberg)
A clampdown in China on independent oil refiners will hurt tanker demand on long-haul routes as cargoes fall, according to Kpler, which said the impact would be partially offset as state processors buy more. Given the independent refiners typically consume a greater variety of grades from more-distant sources outside the Middle East, a cut in their import quota will reduce ton-mile demand for long-haul voyages, Kpler said in a note.
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FIS Tankers Daily Report 2021-08-27
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