Tag: CHINA

China buys less Saudi crude as it slams the brakes on oil imports

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 sees world oil demand reaching pre-pandemic level in 2022

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

CGC buys local unit of China’s Sinopec

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 Saudi oil imports plunge 21%

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

Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half

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

Saudi Arabia holds spot as China’s top crude supplier in April

Shipments from Saudi Arabia were 6.47 million tonnes last month, or 1.57 million barrels per day (bpd), hitting their lowest since October, data from the General Administration of Chinese Customs showed

Oil rises to $67, heads for weekly gain on demand hopes

Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies

Oil rebounds on robust economic data

Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate

Saudi Arabia pips Russia to be China’s biggest oil supplier in 2020

Saudi shipments to China in 2020 were rose 1.9% from a year earlier to 84.92 million tonnes, or about 1.69 million bpd, data from the General Administration of Chinese Customs showed

Saudi Arabia and Russia in tight race to become China’s top oil supplier in 2020

China, the world’s top crude importer, is one of the few countries to have boosted purchases in 2020, as buyers made the most of low prices earlier this year, while fuel demand recovered from the second quarter along with the broader economy