China

China’s crude oil imports surpassed 10 million barrels per day in 2019

China’s crude oil imports surpassed 10 million barrels per day in 2019

EIA

China’s annual crude oil imports in 2019 increased to an average of 10.1 million barrels per day (b/d), an increase of 0.9 million b/d from the 2018 average. China remains the world’s top crude oil importer, surpassing the United

March 23, 2020 - 1:59 pm China, EIA News That Matters, Energy News
Coronavirus crisis could slow the rate of energy transition, Rystad says

Coronavirus crisis could slow the rate of energy transition, Rystad says

Energy Today

Oil & Gas 360 Publishers Note: Here is one you would not have seen coming last year. The fast moving renewable market being slowed down, and coal production going up. Key takeaway from this article: China’s coal mines

The Dystopian Lake filled by the world’s tech lust

The Dystopian Lake filled by the world’s tech lust

Pocket


Oil & Gas 360 Publishers Note:

“The push for “renewable” energy, more Silicon Valley tech and the electrification of everything has a devastating impact on un-voiced communities and the environment.  Wall Street hedge funds managers aren’t writing sternly worded

Source: Houston Chronicle

Oil’s freefall halted by hope of action from central banks, OPEC

Houston Chronicle


Oil rebounded from its worst week since 2008 as the world’s central banks sought to stabilize financial markets, while hopes grew that OPEC+ will deepen output cuts following the coronavirus outbreak.

Futures rose as much as 4.4% in …

March 2, 2020 - 11:00 am China, Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Houston Chronicle

Aramco trading CEO: Oil demand will recover after ‘big hit’

Houston Chronicle


Oil markets will begin to recover in the second quarter as the virus that has inflicted a “big hit” on Chinese demand abates, the head of Saudi Aramco’s trading unit said.

“By the end of April, we will …

February 26, 2020 - 1:00 pm China, Closing Bell Story‎, Crude Oil News, International
Source: Houston Chronicle

Oil slips for 3rd day as virus fears outweigh supply cuts

Reuters


LONDON – Oil slipped towards $56 a barrel on Tuesday, falling for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.

Crude fell …

Source: Reuters

Oil retreats in face of renewed coronavirus uncertainties

Reuters


LONDON – Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian data fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.

Brent …

February 21, 2020 - 10:00 am China, Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil up on slowing pace of coronavirus, Venezuela sanctions

Reuters


LONDON – Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a U.S. move to cut more Venezuelan crude from …

Source: CNBC

China’s wind energy sector faces significant impact due to the coronavirus, Wood Mackenzie warns

CNBC


The new coronavirus outbreak could have a significant impact on the wind energy industry in China, according to research by Wood Mackenzie.

In a statement Monday, the research and consultancy firm said the virus — officially known as COVID-19 …

Source: Houston Chronicle

Oil steady as Asian states seek to offset virus hit to economies

Houston Chronicle


Oil steadied near $57 a barrel in London as China and other Asian states promised economic stimulus to offset the impact of the coronavirus, buoying the outlook for fuel demand.

Prices recovered more than 5% last week, the …

Source: Houston Chronicle

Oil rally continues as virus fears show signs of easing

Houston Chronicle


Oil gained for a fourth session, the longest rising streak this year, amid signs that the worst impacts of the coronavirus outbreak may be easing.

Chinese refiners have used oil’s earlier drop to snap up cheap cargoes, taking …

Source: Reuters

Coronavirus unlikely to have big impact on oil prices: U.S. energy secretary

Reuters


LISBON (Reuters) – The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically push up oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan …

Source: CNBC

Global oil demand set to see first quarterly decline in over 10 years, IEA says

CNBC


Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.

Demand is …

Source: Reuters

Oil prices climb on prospects for deeper OPEC+ output cuts

Reuters


NEW YORK – Oil prices edged higher on Thursday, as investors hoped the world’s biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China.…

February 13, 2020 - 12:00 pm China, Closing Bell Story‎, Crude Oil News, Energy News, International
Chinese LNG demand set to be slashed by Coronavirus

Chinese LNG demand set to be slashed by Coronavirus

LNG Industry


The unseasonably warm weather in the northern hemisphere has undercut LNG demand and, combined with the steady rise of global supply levels, has resulted in record-low prices. Adding insult to injury, the coronavirus epidemic in China has reduced

February 10, 2020 - 11:50 am China, Closing Bell Story‎, Economy, LNG
Source: Reuters

Free-falling LNG prices wreak havoc on trade amid coronavirus fears

Reuters


SINGAPORE – Record low prices for liquefied natural gas (LNG) are roiling the global gas market, creating havoc as traders rush to find alternative locations for cargoes with Chinese buyers rejecting shipments amidst the coronavirus epidemic.

Asian spot prices …

Source: Reuters

Coronavirus paralyses short-term oil, gas sales into China

Reuters


SINGAPORE – Short-term sales of crude oil and liquefied natural gas into China almost ground to a halt this week as the coronavirus slows economic activity and cuts demand and buyers ponder legal action to avoid having to honor …

Source: Reuters

Oil prices leap after reports on coronavirus drug

Reuters


LONDON – Oil prices jumped by more than 4% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity.

The World Health Organization played down …

Source: Reuters

Oil rebounds on potential for further OPEC+ supply cuts

Reuters


LONDON  – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.

Brent crude was up 93 cents, or 1.7%, …

Source: CNBC

Oil falls more than 2%, sinking to lowest level in more than 1 year

CNBC


Oil prices fell more than 2% on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.

U.S. West

Source: Reuters/Rodrigo Garrido

U.S. lifts Iran sanctions on one unit of Chinese shipping giant COSCO

Reuters


WASHINGTON – The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about …

Source: Reuters

Oil falls as coronavirus hits demand; OPEC+ considers deeper cuts

Reuters


LONDON – Oil prices fell on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.

Brent crude LCOc1 …

Source: Houston Chronicle

Oil heads for biggest monthly loss since May

Houston Chronicle


Oil headed for its biggest monthly drop since May as Asia’s coronavirus spread, stoking concerns that demand for transportation fuels will shrink.

Futures were little changed in New York on Friday, after sliding to a five-month low on …

Source: Reuters

Saudi Arabia opens talks on possible February OPEC+ meeting after oil price slide

Reuters


LONDON/MOSCOW/DUBAI  – Saudi Arabia has opened talks with OPEC and allied oil producers about moving their upcoming OPEC+ policy meeting to early February from March, four OPEC+ sources said, after a swift slide in oil prices alarmed Riyadh.

Worries …

January 30, 2020 - 3:30 pm China, Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Houston Chronicle

Oil falls again as U.S. supplies grow, Asia virus menaces demand

Houston Chronicle


Oil resumed declines as the biggest jump in U.S. crude stockpiles in almost three months added to concern over demand in a market already grappling with China’s spreading coronavirus.

 

Futures lost as much as 2% in New …

Source: Houston Chronicle

Oil extends recovery as traders reassess virus threat to demand

Houston Chronicle


Oil continued its recovery from a three-month low as traders reassessed the threat to demand from China’s coronavirus, and as U.S. industry data showed a drop in crude inventories.

Futures traded near $54 a barrel in New York …

Source: CNBC

OPEC’s waning influence laid bare as coronavirus outbreak hammers oil prices, analysts say

CNBC


OPEC’s battle to support oil prices as China’s coronavirus spreads internationally shows the producer group is struggling to wield the same influence over global crude markets, energy analysts have told CNBC.

It comes amid speculation that OPEC and non-OPEC

Source: Reuters

Oil mixed as virus fears offset by talk of OPEC cut extension

Reuters


NEW YORK – Oil was mixed on Wednesday as worries about the impact of the coronavirus outbreak and swelling crude inventories in the United States weighed on prices, while talk that OPEC could extend oil output cuts provided support.…

Source Houston Chronicle

Oil falls to three-month low as virus spread raises demand fear

Houston Chronicle


(Bloomberg) — Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply.

Futures plunged more than 3% as China reported an increase …

January 27, 2020 - 10:30 am China, Closing Bell Story‎, Commodity Pricing, Crude Oil News
Source: CNBC

Oil drops the most since May on fears coronavirus will hit growth

CNBC


Oil is on track for its worst week since May as the coronavirus outbreak continues to pressure prices.

A slowdown in China’s economy would impact demand because China is the world’s largest crude oil importer, after importing a record