Orlen Tenders for North Sea Crude and Seeks WTI Midland as Iran Conflict Reshapes Global Supply Flows
Poland's Orlen bought Grane, Johan Sverdrup and Johan Castberg spot and sought U.S. and Kazakh crude offers as the Iran war reshapes crude trade flows worldwide.
Poland's Orlen purchased North Sea crude grades Grane, Johan Sverdrup and Johan Castberg through spot tenders and sought offers for U.S. WTI Midland and Kazakhstan's CPC Blend, traders told Reuters. NYMEX WTI front-month was at $105.60 a barrel on Tuesday (2026-09-15), up 0.97%, with ICE Brent front-month at $108.44.
The tender activity reflects how the Iran conflict has redrawn supply chains since U.S. and Israeli strikes on Iran in late February 2026. OPEC+ accounted for roughly 40% of global oil production in July 2026, down from more than 48% before the war began, based on outlet calculations using IEA data. That shift has given North Sea barrels, U.S. WTI Midland and Central Asian grades more room in European and Asian refinery programmes.6
On the other side of the reshuffle, some Chinese refiners who bought Middle Eastern crude are now offering it for resale, according to traders. The oil had already exited the Gulf and was being offered at a $6-per-barrel premium to the Dubai benchmark, delivered to Asia.2 Asian buyers are paying up for barrels that have already cleared the Strait.
China's imports of Iranian crude fell in August 2026 compared with July, as the U.S. blockade reinstated in mid-July squeezed flows to Iran's largest oil customer. Washington warned that any country providing Iran with commercial relief would face severe economic consequences.4 Chinese teapot refiners, which had relied on discounted Iranian crude, are now seeking Russian Urals and fuel oil as replacement feedstocks; traders said ESPO pipeline supplies were already stretched.4
Russia shipped more than 10 million barrels to China through the Arctic's Northern Sea Route in 2026 through late August, Reuters reported in the week of August 31 (2026-08-31). But Arctic routing covers only a fraction of overall Chinese crude needs. Pipelines accounted for 8% of China's crude imports in 2024, with 92% arriving by sea, according to the EIA, meaning most Chinese supply remains exposed to any sustained Hormuz tightening.7
North Asian refiners have been buying U.S. crude to fill the gap. At least four Asia-based refiners purchased U.S. crude volumes in a single week, traders told Reuters.3 The scale of China's import adjustment has been substantial: since the war began, China has purchased roughly 400 million fewer barrels than during the same period in 2025, Reuters reported.6 Some of that shortfall reflects structural demand changes — IEA data show electric vehicles displaced around 1 million barrels per day of Chinese oil demand in 2025, with electric trucks already making a meaningful contribution.7
Chinese refiners' retreat from Middle Eastern term crude predated the latest pressure. They nominated a record-low 12 million barrels, or 387,000 barrels per day, of term Saudi crude for July 2026 loading, with Aramco's formula prices discouraging purchases.1
U.S. Energy Secretary Chris Wright said the American military facilitates the movement of 7 million barrels per day of crude out of the Persian Gulf. The UAE and Kuwait have since issued spot tenders for barrels loading outside Hormuz, at Sohar and Fujairah, indicating some Middle Eastern supply is finding alternative sea routes.1
Brent crude traded just below $94 a barrel on Friday (2026-08-21), on course for a second consecutive weekly gain of around 6%, as the Hormuz standoff kept crude markets under pressure. ICE Brent front-month had climbed to $108.44 by Tuesday (2026-09-15).5
How quickly Chinese teapots absorb alternative feedstocks, and whether Chinese refiners continue offering re-sold Middle Eastern barrels into Asian spot markets, will shape demand for the North Sea and U.S. grades that Orlen and other Atlantic Basin refiners are now pursuing. A resumption of Iranian supply, or a sustained step-down in Chinese crude demand, are the scenarios that could most durably ease pressure on these flows.4,6