For decades, Canadian oil exporters have only had one destination: south of the border. Yet things are changing. There’s a new big buyer in town, and it’s buying a lot: China. Canadian crude oil flows abroad began to change direction earlier this year, after the trade dispute ignited by U.S. President Trump prompted exporters to seek new markets, conveniently made more easily accessible by the expanded Trans Mountain pipeline. The pipeline went into operation with its new capacity of 890,000 barrels dail ...

全球原油供需状况 - 海上运输中原油数量跃升至12亿桶，为2016年以来最高水平[1][2] - 该现象表明原油供应过剩且未被消费，大量原油在海上寻找买家而非执行已达成交易[1][3] - 海上运输量加上浮动存储量后，海上原油总量达到2020年以来最高水平[2] 中国原油战略储备动态 - 中国国有能源巨头计划在2025年及2026年新建11个原油储存基地[5] - 未来两年将新增战略储备容量约1.69亿桶，而2020至2024年四年间新增容量为1.8至1.9亿桶[5] - 自2025年初以来，中国以接近每日100万桶的速度进行原油储备，吸收今年大部分供应过剩[4][6] 市场影响分析 - 海上原油高企的局面对看涨油价者和生产商不利，暗示需求远低于供应[3] - 中国利用当前油价趋势在低价时增加大宗商品储备，即使国内需求不足，储备行为仍推高了进口量[5][6]

The discount of Iranian crude selling in China has jumped to more than $6 per barrel compared to Brent, as stocks at the key import hubs of the independent refiners have reached record highs, trade sources told Reuters on Tuesday. The discount for Iran’s crude for October loading has increased to over $6 per barrel compared to the ICE Brent price, up from $5 a barrel discount at the start of September and from a $3 per barrel discount in March. The discount has widened even as fresh U.S. sanctions have h ...