Chinese refiners have snapped up Iraqi crude as more barrels exit the Persian Gulf, underscoring the resilience of oil exports from the region despite persistent threats to shipping. Major independent refiner Rongsheng Petrochemical Co., along with some state-run processors, have purchased at least 8 million barrels of Iraq’s Basrah grade for prompt delivery, according to traders familiar with the matter.

The traders, who asked not to be named as they’re not authorized to speak to the media, said the final export tally could be higher with sales negotiations ongoing. The purchases highlight how Iraqi crude continues to flow even as geopolitical tensions threaten maritime routes in the Persian Gulf.

Bloomberg reporters Yongchang Chin, Serene Cheong, and Rong Wei Neo note that the buying spree reflects strong demand from China’s refining sector, which relies heavily on Middle Eastern grades. The resilience of these exports suggests that supply chains remain intact despite ongoing security concerns.

Market participants will watch whether the increased Iraqi volumes can offset potential disruptions elsewhere, as global oil markets remain sensitive to any interruption in Gulf shipments.