<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/06/Oil-barrels-at-a-port.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1152" height="720" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/06/Oil-barrels-at-a-port.png"/></p>
<p>美国最近在委内瑞拉海岸扣押一艘油轮对中国市场的直接影响有限。</p>
<p>据路透社报道，委内瑞拉大量石油已经运往中国，该国目前在储存中有原油过剩，因国内需求疲软。</p>
<p>这家南美生产国的出口量已经显著下降。</p>
<p>这一下降是由于美国在委内瑞拉海岸扣押油轮以及对与该国贸易的航运公司和船只实施新制裁所导致的。</p>
<p>进一步扣押的可能性正在抑制更多的货物运输。</p>
<p>作为全球最大的石油进口国，中国是委内瑞拉原油的主要买家，尽管这一供应仅占中国总原油进口的约 4%。</p>
<h2>进口可能上升</h2>
<p>预计中国将在本月和下月增加委内瑞拉的石油进口。</p>
<p>这一预测基于过去四个月出口的激增，以及原油的显著折扣，依据新闻报道。</p>
<p>这些因素使得原油对中国的独立炼油商特别有吸引力，尽管交货可能需要长达 60 天。</p>
<p>能源咨询公司 XAnalysts 的创始人兼首席执行官 Mukesh Sahdev 在路透社的报道中表示：“委内瑞拉流向中国的激增是为了预期制裁。”</p>
<p>他还预测，油轮扣押及任何后续制裁或扣押的后果预计将在二月份显现。</p>
<p>分析师预计，委内瑞拉主要出口等级 Merey 原油在中国的到货量将在 12 月显著增加。</p>
<p>油轮追踪公司 Vortexa 估计，这些到货量将超过每天 60 万桶。</p>
<p>Kpler 的初步预测甚至更高，达到 664,000 桶/天，这一数字可能会修正，他们指出这将创下新纪录。</p>
<h2>浮动储存量上升</h2>
<p>来自委内瑞拉的交付增加，加上来自其他受制裁生产国如俄罗斯和伊朗的大量运输，导致油品过剩不断增加，这些油品越来越多地被储存在亚洲的浮动储存中。</p>
<p>根据 Kpler 的数据，上周亚洲的浮动石油储存量上升至 7100 万桶，较 10 月底记录的 5300 万桶和 9 月初的 3300 万桶大幅增加。</p>
<p>这一储存量的显著增加加剧了对委内瑞拉原油的压力，导致折扣加深。</p>
<p>Vortexa 分析师 Emma Li 表示，预计在 11 月卸货的每天 65 万桶 Merey 原油中，至少有三分之一仍在寻找最终买家。</p>
<p>根据报道，关于供应短缺的直接担忧已被来自俄罗斯和伊朗的丰富原油以及运往中国的委内瑞拉原油所缓解。</p>
<p>然而，一位常规买家的交易经理指出，现在还为时已晚，无法全面评估扣押对石油供应的影响。</p>
<p>作为对地缘政治风险的预防措施，该公司已开始购买 “少量” 的加拿大 TMX 原油。</p>
<h2>茶壶炼油厂购买委内瑞拉原油</h2>
<p>对于中国的委内瑞拉原油买家——主要是独立的 “茶壶” 炼油商而言，Merey 等级虽然在整体市场份额中占比小，但却非常重要。</p>
<p>这些买家很难找到立即且具有成本效益的替代这种特定类型石油的方案。</p>
<p>据报道，只有大约六家茶壶炼油厂定期购买委内瑞拉石油。</p>
<p>然而，这些设施面临着供应中断的潜在成本以及需要寻找替代供应的压力。</p>
<p>目前中国对 Merey 的需求处于季节性低谷。</p>
<p>这在上海期货交易所得到了体现，最活跃的沥青期货自 10 月底以来一直呈下行趋势。</p>
<p>尽管该合约在过去三天自周四以来略有上涨，但累计增幅仍不足 1%。</p>
<p>Merey 是一种超重质原油，其经济性显著优于来自哥伦比亚的 Castilla 和来自加拿大的 Access Western Blend 等可比等级。</p>
<p>美国扣押委内瑞拉油轮后对中国石油市场的直接影响有限，首次出现在 Invezz 上。</p>

<p>美国对一艘委内瑞拉油轮的扣押对中国的石油市场影响有限。尽管发生了扣押，但大量委内瑞拉石油已经在运往中国的途中，由于需求疲软，中国的原油供应过剩。预计中国将增加委内瑞拉石油进口，预计到货量将创下纪录。扣押事件和潜在制裁可能会影响未来的运输，但当前的供应受到来自俄罗斯和伊朗进口的支持。独立的中国炼油厂，作为委内瑞拉原油的主要买家，面临寻找替代品的挑战</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/06/Oil-barrels-at-a-port.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/06/Oil-barrels-at-a-port.png"/></p>
<p>The recent US seizure of a tanker off Venezuela’s coast will have a limited immediate effect on the Chinese market.</p>
<div class="lb-trans"><p>美国最近在委内瑞拉海岸扣押一艘油轮对中国市场的直接影响有限。</p>
</div><p>A significant amount of Venezuelan oil was already headed to China with the country having a current surplus of crude in storage amid weaker domestic demand, according to a Reuters report.</p>
<div class="lb-trans"><p>据路透社报道，委内瑞拉大量石油已经运往中国，该国目前在储存中有原油过剩，因国内需求疲软。</p>
</div><p>Exports from the South American producer have dropped significantly.</p>
<div class="lb-trans"><p>这家南美生产国的出口量已经显著下降。</p>
</div><p>This decline follows the US seizure of a tanker off Venezuela’s coast and the imposition of new sanctions on shipping companies and vessels involved in trade with the country.</p>
<div class="lb-trans"><p>这一下降是由于美国在委内瑞拉海岸扣押油轮以及对与该国贸易的航运公司和船只实施新制裁所导致的。</p>
</div><p>The possibility of additional seizures is discouraging further shipments.</p>
<div class="lb-trans"><p>进一步扣押的可能性正在抑制更多的货物运输。</p>
</div><p>As the world’s leading oil importer, China is the primary purchaser of Venezuelan crude, although this supply constitutes only about 4% of China’s total crude imports.</p>
<div class="lb-trans"><p>作为全球最大的石油进口国，中国是委内瑞拉原油的主要买家，尽管这一供应仅占中国总原油进口的约 4%。</p>
</div><h2>Imports likely to rise</h2>
<div class="lb-trans"><h2>进口可能上升</h2>
</div><p>China is anticipated to see an increase in Venezuelan oil imports this month and next.</p>
<div class="lb-trans"><p>预计中国将在本月和下月增加委内瑞拉的石油进口。</p>
</div><p>This projection is based on a recent surge in exports over the past four months, coupled with significant discounts on the crude, according to the news report.</p>
<div class="lb-trans"><p>这一预测基于过去四个月出口的激增，以及原油的显著折扣，依据新闻报道。</p>
</div><p>These factors make the oil particularly appealing to independent refiners in China, the primary purchasers, despite the fact that delivery can take up to 60 days.</p>
<div class="lb-trans"><p>这些因素使得原油对中国的独立炼油商特别有吸引力，尽管交货可能需要长达 60 天。</p>
</div><p>“The surge in Venezuela flow to China increased in anticipation of sanctions,” Mukesh Sahdev, founder &amp; CEO of energy consultancy XAnalysts, was quoted in the Reuters report.</p>
<div class="lb-trans"><p>能源咨询公司 XAnalysts 的创始人兼首席执行官 Mukesh Sahdev 在路透社的报道中表示：“委内瑞拉流向中国的激增是为了预期制裁。”</p>
</div><p>He also predicted the consequences of the tanker seizure—and any subsequent sanctions or seizures—are expected to materialise in February.</p>
<div class="lb-trans"><p>他还预测，油轮扣押及任何后续制裁或扣押的后果预计将在二月份显现。</p>
</div><p>Analysts are projecting a significant increase in the arrival of Merey crude, Venezuela’s primary export grade, in China for December.</p>
<div class="lb-trans"><p>分析师预计，委内瑞拉主要出口等级 Merey 原油在中国的到货量将在 12 月显著增加。</p>
</div><p>Tanker tracker Vortexa estimates these arrivals will surpass 600,000 barrels per day.</p>
<div class="lb-trans"><p>油轮追踪公司 Vortexa 估计，这些到货量将超过每天 60 万桶。</p>
</div><p>Kpler’s initial projection is even higher, at 664,000 bpd, a figure subject to revision, which they note would set a new record.</p>
<div class="lb-trans"><p>Kpler 的初步预测甚至更高，达到 664,000 桶/天，这一数字可能会修正，他们指出这将创下新纪录。</p>
</div><h2>Rising volume in floating storage</h2>
<div class="lb-trans"><h2>浮动储存量上升</h2>
</div><p>Increased deliveries from Venezuela, along with substantial shipments from other sanctioned producers like Russia and Iran, have contributed to a growing surplus of oil, which is increasingly being held in floating storage across Asia.</p>
<div class="lb-trans"><p>来自委内瑞拉的交付增加，加上来自其他受制裁生产国如俄罗斯和伊朗的大量运输，导致油品过剩不断增加，这些油品越来越多地被储存在亚洲的浮动储存中。</p>
</div><p>According to Kpler data, Asian floating oil storage escalated to 71 million barrels last week, a significant jump from 53 million barrels recorded at the end of October and 33 million barrels in early September.</p>
<div class="lb-trans"><p>根据 Kpler 的数据，上周亚洲的浮动石油储存量上升至 7100 万桶，较 10 月底记录的 5300 万桶和 9 月初的 3300 万桶大幅增加。</p>
</div><p>This substantial increase in storage has exacerbated the pressure on Venezuelan crude, leading to deeper discounts.</p>
<div class="lb-trans"><p>这一储存量的显著增加加剧了对委内瑞拉原油的压力，导致折扣加深。</p>
</div><p>According to Vortexa analyst Emma Li, at least a third of the estimated 650,000 barrels per day (bpd) of Merey oil discharged in China during November is still seeking end-buyers.</p>
<div class="lb-trans"><p>Vortexa 分析师 Emma Li 表示，预计在 11 月卸货的每天 65 万桶 Merey 原油中，至少有三分之一仍在寻找最终买家。</p>
</div><p>The immediate concern about supply shortages has been mitigated by abundant crude oil available from Russia and Iran, as well as Venezuelan barrels heading to China, according to the report.</p>
<div class="lb-trans"><p>根据报道，关于供应短缺的直接担忧已被来自俄罗斯和伊朗的丰富原油以及运往中国的委内瑞拉原油所缓解。</p>
</div><p>However, one trading manager from a frequent buyer noted that it is too soon to fully assess the impact of the seizure on oil supplies.</p>
<div class="lb-trans"><p>然而，一位常规买家的交易经理指出，现在还为时已晚，无法全面评估扣押对石油供应的影响。</p>
</div><p>As a precautionary measure against geopolitical risks, the company has begun purchasing “small amounts” of Canadian TMX crude.</p>
<div class="lb-trans"><p>作为对地缘政治风险的预防措施，该公司已开始购买 “少量” 的加拿大 TMX 原油。</p>
</div><h2>Teapot refineries purchase Venezuelan crude</h2>
<div class="lb-trans"><h2>茶壶炼油厂购买委内瑞拉原油</h2>
</div><p>For the Chinese buyers of Venezuelan crude—predominantly independent “teapot” refiners—the Merey grade, though representing a small overall market share, is important.</p>
<div class="lb-trans"><p>对于中国的委内瑞拉原油买家——主要是独立的 “茶壶” 炼油商而言，Merey 等级虽然在整体市场份额中占比小，但却非常重要。</p>
</div><p>Finding immediate, cost-effective alternatives to this specific type of oil would be difficult for these buyers.</p>
<div class="lb-trans"><p>这些买家很难找到立即且具有成本效益的替代这种特定类型石油的方案。</p>
</div><p>According to the report, only approximately six of these teapot refiners regularly purchase Venezuelan oil.</p>
<div class="lb-trans"><p>据报道，只有大约六家茶壶炼油厂定期购买委内瑞拉石油。</p>
</div><p>However, these facilities face potential costs from supply disruptions and the need to source alternative supplies.</p>
<div class="lb-trans"><p>然而，这些设施面临着供应中断的潜在成本以及需要寻找替代供应的压力。</p>
</div><p>Demand for Merey in China is currently at a seasonal trough.</p>
<div class="lb-trans"><p>目前中国对 Merey 的需求处于季节性低谷。</p>
</div><p>This is reflected in the Shanghai Futures Exchange, where the most-traded bitumen futures have been on a downward trend since late October.</p>
<div class="lb-trans"><p>这在上海期货交易所得到了体现，最活跃的沥青期货自 10 月底以来一直呈下行趋势。</p>
</div><p>Although the contract has seen minor gains over the last three sessions since Thursday, the cumulative increase remains less than 1%.</p>
<div class="lb-trans"><p>尽管该合约在过去三天自周四以来略有上涨，但累计增幅仍不足 1%。</p>
</div><p>Merey, an extra-heavy crude grade, is significantly more economical than comparable grades like Castilla from Colombia and Access Western Blend from Canada.</p>
<div class="lb-trans"><p>Merey 是一种超重质原油，其经济性显著优于来自哥伦比亚的 Castilla 和来自加拿大的 Access Western Blend 等可比等级。</p>
</div><p>The post US' seizure of Venezuelan tanker has limited immediate impact on China's oil market appeared first on Invezz</p>
<div class="lb-trans"><p>美国扣押委内瑞拉油轮后对中国石油市场的直接影响有限，首次出现在 Invezz 上。</p>
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美国扣押委内瑞拉油轮对中国石油市场的直接影响有限