China and India Stand To Lose From U.S. Sanctions on Russian Oil …
9 hours ago · Last year, India briefly overtook China as the largest buyer of Russian crude. However, India's import of Russian oil in November plummeted 55% Y/Y to its lowest point since June 2022.
Live news: Oil price hits 3-month high on strong China demand
2 days ago · Oil prices rose to a three-month high on Friday on strong Chinese demand and concerns about dwindling US inventories. Brent crude, the international oil benchmark, gained 2.5 per cent to $78.85 a ...
China imported record amounts of crude oil in 2023 - U.S. Energy ...
Jan 3, 2025 · China, the world’s largest importer of crude oil, imported 11.3 million barrels per day (b/d) of crude oil in 2023, 10% more than in 2022, according to China customs data.Refiners in China imported record volumes of crude oil in 2023 to supply the country’s increasing refining capacity in order to support the country’s transportation fuel needs and produce feedstocks for …
China Issues Second Batch of Crude Oil Import Quotas
Dec 30, 2024 · Both global oil demand and China's are going to be much higher than in 2024 particularly with China aiming at an ambitious 7% economic growth in 2025,. This means that Chinese crude imports in ...
China’s Crude Oil Imports Continue to Slump - OilPrice.com
Nov 7, 2024 · China’s crude oil imports continue to be weak, with October marking the sixth consecutive month in which crude cargo arrivals have lagged behind the imports in the same months of 2023,...
China issues full-year crude import quota in Jan, boosting refiners ...
China has set its 2024 fuel oil import limit at 20 million mt, up from 19.2 million mt for 2023, S&P Global reported. The independent refineries imported 11.91 million mt of fuel oil over January-November 2023, surging from merely 1.24 million mt in …
Oil falls 2% as OPEC cuts oil demand growth view, China concerns
Oct 13, 2024 · Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight month.
China's surplus crude oil hits nearly 1 million bpd for September
Oct 21, 2024 · The weak position of China's crude oil sector was underlined by September data showing a sixth consecutive monthly drop in refinery processing, leading to nearly 1 million barrels per day...
OPEC trims its China crude demand forecast, but nowhere near …
Oct 15, 2024 · The latest monthly report by Organization of the Petroleum Exporting Countries (OPEC) said China's crude oil demand will expand by 580,000 barrels per day (bpd) in 2024.
China Oil Refineries Face Reckoning as Beijing Tackles Overcapacity
5 days ago · (Bloomberg) -- China’s independent oil refineries face a reckoning this year as Beijing tackles overcapacity in the industry, and the crude they rely on becomes a lot scarcer. Over a fifth of the country’s oil refining is handled by smaller, privately owned outfits, many of them housed in the eastern province of Shandong.
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