PetroChina, Indian Oil fail to secure tankers to load Iraqi crude, sources say

PetroChina and Indian Oil Corp failed to secure very large crude carriers to lift Iraqi Basrah crude in late June, while Sinochem is still seeking a tanker. The report points to tighter shipping availability in the crude market, but it is a factual update rather than a major shock. Implications are modest and centered on logistics for Middle East crude flows.

Analysis

PetroChina and Indian Oil Corp failed to secure very large crude carriers to lift Iraqi Basrah crude in late June, while Sinochem is still seeking a tanker. The report points to tighter shipping availability in the crude market, but it is a factual update rather than a major shock. Implications are modest and centered on logistics for Middle East crude flows.