Crude Oil-Soft Espo Market Receives Japanese Support

摘要

The soft spot market for Russia's key East Siberia-Pacific Ocean(Espo)crude oil received some support from Japanese buying amid little demand from China's independent refiners.The bulk of China's independents have run out of crude import quotas for the year,although some traders might be storing Espo in anticipation of the refiners receiving 2021 import quotas,potentially later this year.