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12 Million Barrels Sit Unwanted Near China Amid Trade Shift

2/7/2026

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Summary

Story summary

Five tankers are marked 'for orders' with no buyer, per Kpler.
Up to 12 million barrels sit near China awaiting buyers as India reduces imports.
Six vessels head to offshore transfer points in Singapore and Malaysia.
Four vessels idle in East Asian waters.
The shift follows Indian refiners pausing Russian purchases after a U.S.-India trade deal, with ESPO discounts rising to attract Chinese refiners, nearly $9 below Brent.

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Story summary

Five tankers are marked 'for orders' with no buyer, per Kpler.
Up to 12 million barrels sit near China awaiting buyers as India reduces imports.
Six vessels head to offshore transfer points in Singapore and Malaysia.
Four vessels idle in East Asian waters.
The shift follows Indian refiners pausing Russian purchases after a U.S.-India trade deal, with ESPO discounts rising to attract Chinese refiners, nearly $9 below Brent.