Thursday, August 7, 2025

China Grabs More Canadian Oil as Dirty Crude Supplies Dwindle

From Bloomberg China is snapping up more Canadian crude as global heavy oil supplies dwindle amid Iran sanctions and a political crisis in Venezuela. Ambelos is the second tanker to leave Vancouver’s Westridge terminal this year bound for China, according to data compiled by Bloomberg. It’s carrying more than half a million barrels of heavy Canadian crude, according to IHS