Chinese independent refiners have purchased additional Iraqi crude for October and November delivery as Iranian supply declines, Reuters reported on 6 October, citing traders familiar with the transactions.
The reported purchases total at least 12 million barrels from Iraq and Qatar together; Reuters did not provide a separate Iraqi total. Most were Basra Medium and Basra Heavy. The traders identified Mercuria, Totsa and Trafigura as suppliers and reported delivered premiums of $12 to about $20 a barrel over ICE Brent.
Reuters said the refiners had not immediately responded during a Chinese holiday; Mercuria and Trafigura declined comment, and TotalEnergies did not immediately respond. The volumes and commercial terms remain trader-sourced estimates. Iraqi News’s account draws on the same Reuters reporting.