Crude Oil
November 05, 2026
ASIA CRUDE MOC PERFORMANCE: 3.5 million barrels change hands for October loading
HIGHLIGHTS
Physical trade of seven Oman cargoes completed
Convergence cargo traded volumes down 78.6% YOY
Participants in the Platts Asia crude Market on Close assessment process have completed the physical performance of 3.5 million barrels of Oman crude for October loading, according to trade performance data compiled by Platts, part of S&P Global Energy.
Middle East crude cargoes trade on a two-month forward cycle, meaning that product loading in October resulted from convergence cargoes declared in August. A convergence occurs when 20 partials are traded between two counterparties, resulting in a full 500,000-barrel physical cargo being declared from the seller to the buyer.
A total of six convergence cargoes, equivalent to 3 million barrels of crude, were declared in August for loading in October, Platts data showed. October loadings also included one full 500,000-barrel Oman crude cargo that traded in the MOC in August.
The traded volumes for convergence cargoes were down 45.5% month over month and 78.6% year over year. Full crude cargo traded volumes held steady month over month. No trades for crude cargoes were reported for the same year-ago period in the MOC.
Asia crude MOC activity tapered off in August. A total of 187 Dubai crude partials were traded, down 41% month over month and 76% year over year. On the buy side, Mercuria led with 140 partials, followed by Trafigura and Vitol with 13 partials each.
Unipec was the biggest seller with 157 partials, followed by PetroChina and Shell with 21 and 4 partials, respectively.
Performance tracking
Platts closely monitors performance on trades reported through the MOC as part of its ongoing commitment to upholding the highest standards of integrity and transparency.
As part of trade performance tracking, Platts has reviewed various aspects of performance, including the timeliness of nominations, loading completion and other published parameters of the trades.
Performance details of convergence cargoes declared during August Platts crude partials MOC:
| TRADE | SELLER | BUYER | GRADE | BUYER NOMINATED LOADING DATES | SELLER ALLOCATED DATES | ACTUAL LOAD DATE | VESSEL NAME |
| Aug. 20 | Unipec | Mercuria | Oman | 165kb: Oct. 1-2 | 165kb: Oct. 27-28 | 165kb: Oct. 31 | 165kb: OLYMPIC TRUST |
| 335kb: Oct. 21-22 | 335kb: Oct. 30-31 | 335kb: Nov. 3 | 335kb: C. ETERNITY | ||||
| Aug. 24 | Unipec | Mercuria | Oman | Oct. 1-2 | Oct. 27-28 | Oct. 31 | OLYMPIC TRUST |
| Aug. 27 | Unipec | Mercuria | Oman | Oct. 21-22 | Oct. 30-31 | Nov. 3 | C. ETERNITY |
| Aug. 28 | Unipec | Mercuria | Oman | Oct. 1-2 | Oct. 16-17 | Oct. 19 | DHT JAGUAR |
| Aug. 28 | Unipec | Mercuria | Oman | Oct. 21-22 | Oct. 30-31 | Nov. 3 | C. ETERNITY |
| Aug. 31 | Unipec | Mercuria | Oman | Oct. 1-2 | Oct. 16-17 | Oct. 19 | DHT JAGUAR |
Full cargo traded during August Platts crude MOC:
| TRADE | SELLER | BUYER | GRADE | BUYER NOMINATED LOADING DATES | SELLER ALLOCATED DATES | ACTUAL LOAD DATE | VESSEL NAME |
| Aug. 25 | Shell | Mercuria | Oman | Oct. 1-2 | Oct. 16-17 | Oct. 19 | DHT JAGUAR |
Source: Platts, traders
