The premium on Russian exposure oil for delivery to China's Shandong province fell by $10 during the month to October 23, to $20 a barrel above the Brent price, Kommersant writes, citing S&P Global. Analysts attribute the dynamics to the increase in the supply of raw materials from the Middle East: according to Vortexa estimates, in October shipments to China from Saudi Arabia and Iraq will reach 4.5 million barrels per day, which will create an alternative for local refineries in the face of competition for Russian volumes.

The premium on Russian exposure oil for delivery to China's Shandong province fell by $10 during the month to October 23, to $20 a barrel above the Brent price, Kommersant writes, citing S&P Global. Analysts attribute the dynamics to the increase in the supply of raw materials from the Middle East: according to Vortexa estimates, in October shipments to China from Saudi Arabia and Iraq will reach 4.5 million barrels per day, which will create an alternative for local refineries in the face of competition for Russian volumes.