Sinopec ramps up Russian crude purchases amid Mideast turmoil
Sinopec is increasing purchases of Russian crude, shifting oil flows toward Russia as Middle East supply becomes less certain.
Source →The trace
How it reaches your house.
Starting from Canadian crude oil imports, we walked the supply graph hop by hop to the goods you buy and the companies you own. Each step is the engine’s reasoning, scored for confidence and cited where a source backs it.
First impact
China Petroleum & Chemical Corp (Sinopec) — Materials →Stands to benefitFar East Russian oil
Reuters reports Sinopec ramped up purchases of Far East Russian oil to compensate for diminished Middle East supplies, directly increasing demand for Russian crude.
“China's state-owned Sinopec Corp, the world's biggest refiner, has ramped up purchases of Far East Russian oil to compensate for Middle East supplies diminished by the Iran war”
94% confidenceCited →Canadian crude oil imports →Shortage riskSaudi Arabia supplies 4.9% of this import stream, so the event's Middle East supply uncertainty directly tightens that slice.
76% confidenceCanadian crude oil imports →Shortage riskHop 2
Saudi Arabia →Shortage riskSaudi Arabia supplies 11.96% of this fuel, so Middle East oil-flow disruption can make marine fuel scarcer.
81% confidenceSaudi Arabia →Shortage riskDiesel and Heavy Fuel Oil (underground mining and backup power)
Saudi Arabia supplies 11% of this fuel category, so supply uncertainty can constrain diesel and heavy fuel oil availability.
80% confidenceSaudi Arabia →Shortage riskMixed Natural Gas Liquids (NGL Stream)
Saudi Arabia supplies 12% of this NGL stream, so uncertainty in Middle East production can reduce downstream availability.
Hop 3
Marine Diesel and Bunker Fuel →Stands to benefitThe event explicitly says oil flows are shifting toward Russia, and Russia supplies 6% of this fuel stream, so it benefits as an alternative source.
85% confidenceMarine Diesel and Bunker Fuel →Shortage riskSaudi Arabia supplies 11.96% of this fuel stream, and Middle East turmoil makes that supply less certain, so its marine-diesel and bunker-fuel flow is constrained.
84% confidencePetroleum Coke (Fuel Grade) →Prices riseFuel-grade petroleum coke is a critical input here, so tighter supply raises kiln fuel costs.
Hop 4
Home heating oil →Prices riseRerouted global crude purchases and less certain Middle East supply make the crude feedstock used to produce home heating oil more expensive.
61% confidenceGasoline and diesel →supply upCrude oil feedstock is the full-strength critical input to gasoline and diesel, and Sinopec's shift to Russian crude is a direct alternative-sourcing response to Middle East uncertainty, improving feedstock availability.
56% confidenceRussia →Stands to benefit
Where it lands
What you buy, and what you own.
Goods you buy
Cement and concrete · Seafood and fish · Propane (home use) · Gasoline and diesel · Asphalt and paving materials · Home heating oil
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