Global Crude Loadings Slump To The Lowest Level Since June 2022

Global loadings of crude and condensate plunged in August to the lowest level since June 2022, led by a slump in Saudi Arabia’s cargo loadings, Vortexa said in a note this week.   Global supply is tightening, while China’s crude imports are recovering, according to Vortexa.   “This combination of tighter supply and rising demand is likely to continue through to the end of this year and support pricing, especially given the recent extension to voluntary Saudi production cuts amid a general pick up in global refinery…