China
News
May 31, 2021
Futures in New York climbed past $67 a barrel, putting crude on track for a second straight monthly gain. OPEC and its allies are expected to stick with a decision to boost output in July when the group gathers Tuesday.
News
May 21, 2021
China is set to extend its dominance in the global oil market as planned tax adjustments spark a chain reaction, prompting processors to boost crude imports and raise refinery run rates.
News
May 17, 2021
Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks.
News
May 17, 2021
State-controlled National Iranian Oil Co. has been priming oil fields -- and customer relationships -- so it can increase exports if an accord with the U.S. is clinched. But even if a deal is struck, the flow of additional crude into the market may be gradual.
News
May 07, 2021
Zhoushan is also home to some of the country’s largest oil terminals and storage tank farms. The same restrictions do not extend to ships transporting cargoes from India, according to an official from Zhoushan port and oil traders who asked not to be identified.
News
April 23, 2021
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec.
News
April 16, 2021
The pick-up in activity across the key Asian market comes amid a flurry of signs that global oil consumption is improving as economies including the U.S. shake off the impact of the pandemic. So far in 2021, Brent futures have soared 30%, and last traded near $67 a barrel.
News
April 14, 2021
The International Energy Agency boosted estimates for this year’s growth in oil consumption by 230,000 barrels a day to 5.7 million a day amid a stronger outlook for the U.S. and China. That puts the world on track to recover about two-thirds of the demand lost last year.
News
April 05, 2021
Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns.
News
April 01, 2021
Even if OPEC+ decided to resume phased increases, it would review each step every month, allowing it to hit pause if oil demand growth were to disappoint, according to a delegate.
News
March 31, 2021
The revision, which mainly affects the next few months, follows a recommendation from OPEC Secretary-General Mohammad Barkindo that the coalition should remain very cautious.
News
March 30, 2021
Oil is poised to close out a fourth quarterly advance on Wednesday, but the past week has seen volatility climb amid the Suez Canal blockage. While fuel consumption is rising in many parts of the world, risks remain, with the head of the U.S. Centers for Disease Control and Prevention warning of “impending doom” as cases and deaths in the country pick up.
News
March 30, 2021
The coalition led by Saudi Arabia was widely criticized three weeks ago when it rebuffed calls to revive some of the crude production halted during the pandemic. As OPEC prepares for another decision on oil output, the producers believe their defiantly cautious approach is paying off.
News
March 26, 2021
Beijing plans to invest in Iran while buying oil from the Islamic Republic, further straining its relationship with the U.S. which has already been frayed by China’s imports of covertly-shipped Iranian crude.
News
March 26, 2021
China’s quick recovery from Covid-19 means that its demand for oil and gas has fully recovered from the pandemic-induced swoon of early 2020, and President Xi Jinping continues to make energy security a top priority.
News
March 22, 2021
Aramco is looking to work with China on blue hydrogen and ammonia, synthetic fuels and carbon capture utilization and storage, Nasser said at the China Development Forum in Beijing. “All of these are essential to achieving our long-term, low-carbon ambitions,” said Aramco CEO Amin Nasser.
News
March 22, 2021
Brent oil gave up some gains posted at the end of the worst week since October as the dollar strengthened and as investors assessed the near-term demand outlook.
News
March 19, 2021
Even as problems with Europe’s vaccine program and a slowdown in Chinese crude buying sent futures down more than 7% on Thursday, data from around the world showed a steady, albeit patchy, recovery in demand.
News
March 19, 2021
The sell-off will prove to be “transient” and this week’s decline presents a buying opportunity amid the large rally, Goldman Sachs Group analyst Damien Courvalin said in a note. There’ll still be a swift rebalancing of the market, with vaccinations driving an increase in mobility, he said. UBS Group AG also stuck with its positive outlook for Brent.
News
March 18, 2021
Futures have backtracked since Brent rallied above $71 a barrel and U.S. crude topped $67 earlier this month. China has muted its buying, touching off physical-market weakness in Asia, and a shaky Covid-19 vaccine rollout in parts of the world spells trouble for a complete demand recovery in the short term.
News
March 18, 2021
One of the fastest-growing corners of China’s energy market is facing a potentially devastating blow as Xi Jinping’s government increases scrutiny of high-emission fuels.
