Global demand increased by 710,000 bpd in the second quarter, the smallest quarterly increase in more than a year, according to the IEA’s monthly oil report

Saudi Arabia, the world’s biggest oil exporter, kept its ranking as China’s top crude supplier for a ninth straight month in August as major producers relaxed production cuts

China National Petroleum Co (CNPC) said that it plans to produce new shale oil from formations within the existing Daqing oil field area that will help replenish production in decrease of that site

Oil prices fell by 4%, extending last week’s steep losses on the back of a rising US dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand

The United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran may not return to nuclear talks or may adopt a harder line whenever it does

Saudi Arabia remained China’s single largest crude oil supplier in June, ahead of Russia, although Saudi shipments to the world’s top oil importer fell by 19 percent last month amid lower overall imports

OPEC forecast that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China and India

Argentine energy firm Compañía General de Combustibles (CGC) said it had acquired the local operation of China’s Sinopec Group, helping it increase its production to over 50,000 barrels of oil equivalent per day

China’s imports from Saudi Arabia fell 21 percent in May from a year earlier but retained their top ranking among suppliers for a ninth month in a row, customs data showed

In a monthly report, the Organization of the Petroleum Exporting Countries said demand would rise by 6.6% or 5.95 million barrels per day (bpd) this year. The forecast was unchanged for a second consecutive month