13 March 2025: 08:30 GMT
April allocations are here and they are down bad. Total allocations fell to 36.5 mil bbl – the lowest since December’s allocations! Unipec was among those having to tighten its belt, with its allocation halved from March to just 3 mil bbl. Remember they were getting 14.5 mil bbl in October! A cut even Elon Musk would be impressed by – but maybe he’s not been as successful as he would have liked… Read more on page 2! Meanwhile, PetroChina and CNOOC were the only recipients granted a larger allocation, up by 1 mil bbl and 2 mil bbl, respectively. Hengli’s allocation was slashed from 5 mil bbl to just 2 mil bbl.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
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