US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts
1 week, 6 days ago

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts

Live Mint  

-- US crude exports to China plunged by almost half this year as shifts in the nation’s economy weighed on demand and the country buys more barrels from countries including Russia and Iran. Exports of US oil to China plunged to 81.9 million barrels over the course of the year, down 46% from 150.6 million barrels last year, according to data from Kpler. China also is shifting its sources of oil and imported about 26% of its seaborne crude from Russia, Iran and Venezuela this year, up from 24% a year earlier, the Kpler data show. The Netherlands continues to import the most crude from the US, taking in 194 million barrels in 2024, a 12% increase from last year, the Kpler data show.

China Russia Crude Oil Exports Us Oil Us Crude Kpler Data  buying  barrels  shifts  sources  demand  seaborne  wanes  crude  kpler  data  china  south  dwindle  oil  exports  million

History of this topic

How China, India will navigate Trump’s bid for ‘tariffs, and tariffs alone’
2 days, 2 hours ago

How China, India will navigate Trump’s bid for ‘tariffs, and tariffs alone’

Live Mint  

As Donald Trump returns as the US President on 20 January, the world will closely watch his trade policies. During his first term, Trump initiated a trade war with China in 2018, imposing tariffs on $250 billion worth of Chinese goods, including steel, aluminium, solar panels and washing machines. China's trade surplus stood at $785 billion for the first 10 …

Oil rises from two-month highs on optimism ove
6 days, 9 hours ago

Oil rises from two-month highs on optimism ove

Live Mint  

By Florence Tan SINGAPORE - Oil prices extended their gains on Friday after closing at their highest in more than two months in the previous session on hopes governments across the world may increase policy support to revive economic growth that would lift fuel demand. Factory activity in Asia, Europe and the U.S. ended 2024 on a soft note as …

Oil inches higher in thin trade, investors focus on China, US data
1 week, 3 days ago

Oil inches higher in thin trade, investors focus on China, US data

Live Mint  

By Florence Tan and Emily Chow SINGORE -Oil prices edged up on Monday in thin holiday trade ahead of the year-end as traders awaited more Chinese and U.S. economic data later this week to assess growth in the world's two largest oil consumers. Oil prices were also supported by optimism for Chinese economic growth next year that could lift demand …

Oil spikes 1% in holiday-thinned session over China stimulus outlook; Brent hits $74 in rangebound trade
1 week, 6 days ago

Oil spikes 1% in holiday-thinned session over China stimulus outlook; Brent hits $74 in rangebound trade

Live Mint  

International crude oil prices rose almost one per cent on Thursday, December 26, in a holiday-thinned trading session driven by hopes for additional fiscal policy stimulus in China, the world's biggest oil importer, and supported by an industry report showing a decline in US crude inventories. Crude oil trades higher in holiday-thinned session -According to news agency Reuters, Chinese authorities …

India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P
1 week, 6 days ago

India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P

Live Mint  

India is poised to close 2024 with a higher oil demand growth rate than China, underscoring its emergence as a key consumption hub in Asia, according to a report by S&P Global Commodity Insights. "India is set to end the year with its oil demand growth rate surpassing China's, making it one of the fastest-growing consumption centres," the report noted, …

China’s EV boom is starting to pinch oil producers
2 weeks, 2 days ago

China’s EV boom is starting to pinch oil producers

Live Mint  

The country has long been the thirstiest consumer of crude. While China’s overall oil demand still appears stable, its composition is shifting gears rapidly. Gasoline and diesel demand seems to have peaked: China’s total demand for these transportation fuels in 2024 will be 3.6% lower than in 2021, according to IEA estimates. Diesel and gasoline accounted for 44% of China’s …

Oil prices ease on surplus concerns, dollar strength
2 weeks, 3 days ago

Oil prices ease on surplus concerns, dollar strength

Live Mint  

By Nicole Jao NEW YORK -Oil prices edged lower on Monday in thin trade ahead of the Christmas holiday on concerns about a supply surplus next year and a strengthened dollar. Macquarie analysts projected a growing supply surplus for next year, which will hold Brent prices to an average of $70.50 a barrel, down from this year's average of $79.64, …

2024 turning point for country's refined oil market
3 weeks, 2 days ago

2024 turning point for country's refined oil market

China Daily  

A drilling platform in Kaiping South Oilfield in the South China Sea in December 2023. China's economic structural transformation and the rapid rise of renewables will make 2024 a turning point for the country's refined oil market, with demand set to shrink for the first time, industry experts say. Due to the accelerated replacement of traditional energy with renewable sources …

China’s crude oil imports rebounded in November, but so did storage flows: Russell
3 weeks, 2 days ago

China’s crude oil imports rebounded in November, but so did storage flows: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, Dec 16 - China's crude oil imports in November hit a 14-month high, but much of the additional volume is likely to have ended up in storage as refinery processing remained subdued. China, the world's biggest crude importer, had a surplus of about 1.77 million barrels per day in November, according to calculations based on …

Trade War Widened US Trade Deficit, Increased Chinese Global Exports
3 weeks, 3 days ago

Trade War Widened US Trade Deficit, Increased Chinese Global Exports

Deccan Chronicle  

The US-China trade war initiated by President Donald Trump under his previous government failed to achieve its goals as the trade deficit of the US further widened while China’s global exports increased between 2017 and 2023. The US-China trade war, which began in March 2018 by imposing 25 per cent tariffs on steel and 10 per cent on aluminium, escalated …

China’s exports slow, imports decline in November, falling below forecasts
4 weeks, 2 days ago

China’s exports slow, imports decline in November, falling below forecasts

Associated Press  

HONG KONG — China’s exports slowed in November and its imports declined, falling below forecasts and underscoring potential weakness in trade at a time when its leaders are striving to boost the economy after the shocks of the COVID-19 pandemic. U.S. President-elect Donald Trump has threatened to slap tariffs of 60% or more on imports of Chinese goods, complicating Beijing’s …

Why oil prices are not rising despite the war in West Asia
1 month ago

Why oil prices are not rising despite the war in West Asia

Hindustan Times  

In an apparent turn of events defying historical precedent, the escalating conflict West Asia--a region synonymous with global oil supply shocks--has not driven oil prices into the stratosphere. The International Energy Agency projects oil demand growth in 2024 and 2025 to be half that of 2022 and 2023, citing China’s transition to green energy as a key factor. While Iran’s …

Russia’s crude oil and LNG shipments to Asia slip slightly in 2024: Russell
1 month ago

Russia’s crude oil and LNG shipments to Asia slip slightly in 2024: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, Dec 3 - Asia's imports of Russian crude oil and liquefied natural gas are set to log small declines this year and while coal had a bigger drop, there's little evidence that Western sanctions are working well. In barrels per day terms, Asia's seaborne imports from Russia are likely to come in around 3.22 million …

Saudi Arabia boosts crude oil share in Asia at Russia’s expense: Russell
1 month, 1 week ago

Saudi Arabia boosts crude oil share in Asia at Russia’s expense: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, - Saudi Arabia clawed back market share of Asia's crude oil imports in November, while Russia surrendered some of its barrels in what may be an early sign of a shift in market dynamics. Asia's imports from Saudi Arabia, the world's biggest crude exporter, rose to 5.83 million barrels per day in November, up from …

Why Trump’s proposed tariffs may be bad news for China and Asia
1 month, 1 week ago

Why Trump’s proposed tariffs may be bad news for China and Asia

CNN  

Hong Kong CNN — President-elect Donald Trump took to social media on Monday to promise massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his second term. But Trump’s planned tariffs on Chinese goods could also benefit some countries in Southeast Asia as factories may relocate from China to other places …

China crude oil imports set for November rebound, but it’s price not demand: Russell
1 month, 2 weeks ago

China crude oil imports set for November rebound, but it’s price not demand: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, Nov 21 - China's crude imports are on track to rebound in November to the highest in three months, but the increasing appetite of the world's largest oil importer is more about price than rising demand. Crude oil arrivals may reach around 11.4 million barrels per day this month, the most since August and the …

China’s surplus crude oil eased in October, but this is still bearish: Russell
1 month, 3 weeks ago

China’s surplus crude oil eased in October, but this is still bearish: Russell

Live Mint  

By Clyde Russell SYDNEY, Nov 18 - China's crude oil surplus nearly halved in October, but this was a further sign of weakness as both imports and refinery runs dipped. But there is also a structural shift underway in China's crude oil demand, with the rapid uptake of what Beijing terms new energy vehicles, which include full electric vehicles and …

Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71
1 month, 3 weeks ago

Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71

Live Mint  

International crude oil prices settled down more than two per cent in the previous session as investors fretted about weaker Chinese oil demand and a potential slowing in the pace of US Federal Reserve interest rate cuts after the latest macroeconomic data. Back home, crude oil futures settled 1.86 per cent lower at ₹5,660 per barrel on the multi commodity …

Russia wants to become the second-largest oil producer in the world
1 month, 3 weeks ago

Russia wants to become the second-largest oil producer in the world

China Daily  

Russia is reportedly considering a major oil-sector shakeup by merging three of its largest oil companies: state-backed Rosneft and Gazprom Neft and privately-held Lukoil. Notably, the consolidation could allow Russia to command higher prices for crude oil exports to major buyers like India and China. This shift is driven by Russia’s substantial discounts on crude oil, which have made it …

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?
1 month, 3 weeks ago

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?

Firstpost  

The surplus could provide a buffer for prices against potential supply-side price shocks from conflicts in West Asia and other regions Low oil demand from China, supply-side shocks due to the conflict in West Asia, and increase in oil production by countries like US and Brazil are all important factors in determining crude oil price. The IEA forecasts that global …

Oil Prices Rise as Middle East War Rages, but China's Demand Remains a Key Factor
2 months, 2 weeks ago

Oil Prices Rise as Middle East War Rages, but China's Demand Remains a Key Factor

Live Mint  

Oil prices remain volatile as the Middle East war rages on, with Brent crude futures settling higher for the second consecutive session. China's recent efforts to stimulate its economy are expected to have a positive impact on oil demand, but it may take some time for the stimulus efforts to filter through to oil demand. Global oil inventories point to …

China's exports integrating into global supply chains
4 months, 3 weeks ago

China's exports integrating into global supply chains

China Daily  

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. From January to May 2024, China's exports to the US stood at 1.39 trillion yuan, a 3.6 percent increase year-on-year. ASEAN is now the largest trading partner of China, with China's exports reaching 3.71 trillion yuan in 2023, maintaining the high level seen in the previous …

China's exports integrating into global supply chains
4 months, 3 weeks ago

China's exports integrating into global supply chains

China Daily  

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. From January to May 2024, China's exports to the US stood at 1.39 trillion yuan, a 3.6 percent increase year-on-year. ASEAN is now the largest trading partner of China, with China's exports reaching 3.71 trillion yuan in 2023, maintaining the high level seen in the previous …

China's exports integrating into global supply chains
4 months, 3 weeks ago

China's exports integrating into global supply chains

China Daily  

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. From January to May 2024, China's exports to the US stood at 1.39 trillion yuan, a 3.6 percent increase year-on-year. ASEAN is now the largest trading partner of China, with China's exports reaching 3.71 trillion yuan in 2023, maintaining the high level seen in the previous …

Oil prices decline over 1% on Chinese demand jitters
5 months, 3 weeks ago

Oil prices decline over 1% on Chinese demand jitters

Live Mint  

By Arathy Somasekhar HOUSTON -Oil prices settled more than 1% lower on Tuesday, the third straight day of losses, on worries of a slowing Chinese economy crimping demand, though declines were stemmed by a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September. "Weaker economic data continues to flow from China as …

Russia was China’s top oil supplier for the twelfth month in April
7 months, 2 weeks ago

Russia was China’s top oil supplier for the twelfth month in April

The Hindu  

Russia was China’s top oil supplier in April for a 12th month, with volumes rising 30% from a year earlier, official data showed, as refiners continued to cash in on discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices. China’s crude-oil imports from Russia, which include supplies sent via pipelines and the sea, were 9.26 million …

U.S. Is The World's Top LNG Exporter
9 months, 1 week ago

U.S. Is The World's Top LNG Exporter

Huff Post  

LOADING ERROR LOADING The United States sold more liquefied natural gas on the global market than any other country in 2023, surpassing yet another milestone in the nation’s transformation into a fossil fuel superpower. On average each day, almost 12 billion cubic feet were superchilled to nearly 300 degrees Fahrenheit below zero, shrinking the fuel to one-600th of its gaseous …

US lawmakers know drill ahead of election：China Daily editorial
10 months ago

US lawmakers know drill ahead of election：China Daily editorial

China Daily  

The measure in the US funding legislation unveiled by congressional leaders on Sunday, which seeks to block China from buying oil from the Strategic Petroleum Reserve of the United States, is more symbolic than of practical meaning. The issue of SPR oil sales to China actually heated up after US President Joe Biden announced a sale of 180 million barrels …

U.S. takes lead as the Europe’s top fuel supplier
10 months, 1 week ago

U.S. takes lead as the Europe’s top fuel supplier

The Hindu  

The United States has taken the top spot as Europe's supplier of crude oil, diesel, and liquefied natural gas in recent months, capitalising on reduced imports from east of Suez caused by shipping disruptions in the Red Sea. "The U.S. is in top position on basically all the key commodities that Europe needs to buy," Kpler crude analyst Viktor Katona …

Oil scores weekly gain as Middle East risk offsets China concerns; Brent at $78
11 months, 2 weeks ago

Oil scores weekly gain as Middle East risk offsets China concerns; Brent at $78

Live Mint  

Oil prices settled slightly lower in the previous session but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Back home, on the Multi Commodity Exchange, crude oil futures due for a February 16 expiry, settled 0.28 per cent higher at ₹6,045 per bbl, having swung between ₹6,084 …

Country has cemented its place in global supply chains
1 year, 1 month ago

Country has cemented its place in global supply chains

China Daily  

Containers are loaded onto a cargo vessel in Qinzhou Port, Guangxi Zhuang autonomous region, a transit point on the New International Land-Sea Trade Corridor. In the first 10 months of this year, the total import and export value of China's trade in goods hit 34.32 trillion yuan, an increase of 0.03 percent year-on-year. Last year, the total value of China's …

China’s exports and imports sink in September as global demand falters
1 year, 2 months ago

China’s exports and imports sink in September as global demand falters

Associated Press  

HONG KONG — China’s exports and imports both fell in September from a year earlier, though they contracted at a slower pace than the month before even as global demand remained muted. Customs data released Friday showed exports for September slid 6.2% to $299.13 billion in the fifth straight month of decline. Demand for Chinese exports weakened after the Federal …

China's July exports tumble by double digits, adding to pressure to shore up flagging economy
1 year, 5 months ago

China's July exports tumble by double digits, adding to pressure to shore up flagging economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China's exports plunged by 14.5% …

China’s July exports tumble by double digits, adding to pressure to shore up flagging economy
1 year, 5 months ago

China’s July exports tumble by double digits, adding to pressure to shore up flagging economy

Associated Press  

BEIJING — China’s exports plunged by 14.5% in July compared with a year earlier, adding to pressure on the ruling Communist Party to reverse an economic slump. “Policymakers have pledged further policy support, which could buoy household spending and lead to an improvement in import growth for the coming few months.” Exports to the United States fell 23% from a …

China’s July exports tumble by double digits, adding to pressure on economy
1 year, 5 months ago

China’s July exports tumble by double digits, adding to pressure on economy

LA Times  

Chinese leaders are trying to shore up business and consumer activity after a rebound sparked by the end of coronavirus controls in December fizzled out earlier than expected. China’s exports plunged by 14.5% in July compared with a year earlier, adding to pressure on the ruling Communist Party to reverse an economic slump. Demand for Chinese exports cooled after the …

China exports slumped 12.4% in June from a year earlier as global demand weakened
1 year, 5 months ago

China exports slumped 12.4% in June from a year earlier as global demand weakened

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

China, India receive record Russian crude oil in May: data
1 year, 7 months ago

China, India receive record Russian crude oil in May: data

The Hindu  

Russian crude oil imports by China and India in May hit an all-time high as buyers gorged on discounted supplies, reducing demand for oil from the Middle East and Africa, according to preliminary assessments from ship trackers. 3 crude importers and top buyers of Russian oil imported about 110 million barrels in May, data from Vortexa and Kpler showed, up …

Oil prices remain steady as high inventories balance US debt bill development
1 year, 7 months ago

Oil prices remain steady as high inventories balance US debt bill development

Live Mint  

Oil prices held steady on Thursday as news of rising inventories in the largest oil consumer in the world overshadowed likely pauses in US interest rate hikes and the passage of the crucial vote on the US debt ceiling bill. While US West Texas Intermediate crude declined by 16 cents, or 0.23%, to $67.93, Brent crude futures dropped 17 cents, …

China’s Demand for Oil Hits Record as IEA Raises Global Forecasts
1 year, 7 months ago

China’s Demand for Oil Hits Record as IEA Raises Global Forecasts

Live Mint  

China’s insatiable demand for oil is growing at a faster-than-expected pace, threatening to tighten crude markets and send oil prices higher as supplies struggle to keep up, the International Energy Agency said. In its closely watched monthly oil market report, the IEA raised its forecast for global oil demand growth this year by 200,000 barrels a day, to 2.2 million …

Oil heads for fourth weekly decline on demand growth concerns in US, China
1 year, 7 months ago

Oil heads for fourth weekly decline on demand growth concerns in US, China

Live Mint  

Oil prices declined on May 12, heading for a fourth weekly drop, as renewed economic concerns in the United States and China weighed on demand growth in the near-term, a potential trigger for greater volatility in oil markets. The US Federal Reserve may need to raise interest rates again in its next meeting as the inflation data so far has …

Russia’s shadowy energy trade is raising fears of a devastating oil spill
1 year, 8 months ago

Russia’s shadowy energy trade is raising fears of a devastating oil spill

CNN  

London CNN — The waters of the Bay of Lakonikos, on the south-eastern side of Greece’s Peloponnese peninsula, are a bright turquoise color. “Smaller vessels come in from Russian ports, they transfer the cargoes onto larger vessels, and then those larger vessels will head off to Asia.” A satellite image taken on March 20, 2023 shows two tankers conducting a …

Explained: The rising influence of China over West Asia
1 year, 9 months ago

Explained: The rising influence of China over West Asia

Firstpost  

China’s involvement in the region shifts from being purely driven by commercial interests to one that involves security cooperation, to safeguard its expanding assets and expatriate population China’s billions of dollars in global investments and infrastructure projects seem to be paying off politically and economically. China’s exports to Saudi Arabia have annually increased at 15.3 per cent year on year …

House votes to block China from buying oil from US reserves
1 year, 11 months ago

House votes to block China from buying oil from US reserves

Associated Press  

WASHINGTON — The Republican-controlled House on Thursday voted to block oil from the country’s emergency stockpile from going to China. Rep. Cathy McMorris Rodgers, R-Wash., the new head of the House Energy and Commerce Committee, said the bill would help end what she called President Joe Biden’s “abuse of our strategic reserves.” Biden withdrew 180 million barrels from the strategic …

When China and Saudi Arabia meet, nothing matters more than oil
2 years, 1 month ago

When China and Saudi Arabia meet, nothing matters more than oil

CNN  

Hong Kong CNN — Chinese leader Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he signed a comprehensive strategic partnership with the world’s largest oil exporter and met leaders from across the Middle East. Saudi Arabia is China’s largest trading partner in the Middle East and the top global supplier …

US oil prices hit lowest level in nearly a year. Gas is down 6% in a month
2 years, 1 month ago

US oil prices hit lowest level in nearly a year. Gas is down 6% in a month

CNN  

London CNN Business — US oil prices have fallen to their lowest level since December 2021 on concerns that protests in China against Covid-19 lockdowns will dent demand. Global oil prices have fallen about 35% since June as strict coronavirus restrictions in China have kept demand weak, and as some of the world’s major economies have signaled they are heading …

World’s most-crucial fuel heads for shortage touching everything
2 years, 1 month ago

World’s most-crucial fuel heads for shortage touching everything

Live Mint  

No fuel is more essential to the global economy than diesel. People potentially freezing to death is another.” In the US, stockpiles of diesel and heating oil are at their lowest point ever for this time of year in data going back four decades. Global export markets have gotten so tight that poorer countries like Pakistan are getting shut out, …

Oil prices up 1% on decline in US crude inventory
2 years, 2 months ago

Oil prices up 1% on decline in US crude inventory

Live Mint  

NEW DELHI: Global crude oil prices rose over 1% on Wednesday following a decline in US stockpiles. Rahul Kalantri, vice president for commodities at Mehta Equities, said, “Despite aggressive interest rate hikes by the US Fed so far, crude oil demand has remained robust, as per the industry data released on Tuesday. The American Petroleum Institute reports showed crude oil …

India's oil import from Middle East at a 19-month low, Russia now second largest supplier: Reports
2 years, 2 months ago

India's oil import from Middle East at a 19-month low, Russia now second largest supplier: Reports

Op India  

India’s oil imports from the Middle East dropped to a 19-month low in September, while Russian imports surged, despite refining outages reducing overall crude imports, according to trade and shipping data. India’s total oil imports in September slumped to a 14-month low of 3.91 million barrels per day, down 5.6% from the previous year, due to maintenance at refineries such …

Oil tumbles to lowest since January as demand concerns escalate
2 years, 4 months ago

Oil tumbles to lowest since January as demand concerns escalate

Live Mint  

Oil retreated to the lowest level since January on concern a global slowdown will cut demand in Europe and the US just as China’s Covid Zero strategy hurts consumption. OPEC leader Saudi Arabia said this week it’s ready to manage the market proactively, raising the possibility of more supply cuts. In China, the world’s biggest oil importer, strict anti-virus curbs …

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