China – Oil & Gas 360

Oil prices fall on China/U.S. economic worries; Ukraine peace talks eyed

May 19, 2025

(Investing) – Oil prices fell Monday, handing back some of the previous week’s gains as traders fretted about Moody’s U.S. credit downgrade as well as slowing economic growth from China, the world’s largest crude importer. At 08:15 ET (12:15 GMT), Brent Oil Futures expiring in June inched 0.7% lower to $64.93 per barrel, while West Texas Intermediate (WTI) crude futures also fell 0.7% to $61.53

With US trade war, China now top buyer for Canadian crude on Trans Mountain pipeline

May 16, 2025

(BOE Report) – China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating. China’s new interest in Canadian oil comes as U.S. President Donald Trump’s trade war has strained relations between longtime

U.S. warns Hong Kong banks over Iran oil sales

May 16, 2025

(Oil Price) – The United States is looking to close all loopholes Iran is using to sell its oil to China and warned Hong Kong-based banks last month against facilitating Iranian oil sales to Chinese buyers, Bloomberg reported on Friday, citing unnamed sources with knowledge of the development. In early April, a delegation from the U.S. Department of the Treasury visited Hong Kong,

China snubs U.S. energy in trade pause

May 15, 2025

(Oil Price) – Despite the trade talks breakthrough the United States and China announced earlier this week, Chinese imports of U.S. energy will remain at near zero levels, at least over the summer, while the world’s two biggest economies are negotiating a possible trade deal. The U.S. and China on Monday announced a 90-day de-escalation in the trade war, slashing their

Traders rebrand Venezuelan oil for China as Brazilian, sources and tanker trackers say

May 12, 2025

(BOE Report) – Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian crude over the past year, according to two tanker tracking firms, company documents and four traders, helping buyers to cut logistics costs and circumvent U.S. sanctions. Independent refiners in China are the main buyers of seaborne oil shipments from countries sanctioned by

As Brazilian president visits China, $1 billion sustainable fuel deal announced

May 12, 2025

(Investing) – SAO PAULO -Brazil announced two Chinese partnerships on Monday, including a $1 billion investment by China’s Envision Energy to produce sustainable aviation fuel, as the country’s president visits China. President Luiz Inacio Lula da Silva met with energy companies as well as with automaker GAC, and Chinese defense company Norinco. Minister of Mines and Energy Alexandre Silveira told journalists

U.S. sanctions disrupt Chinese teapots’ purchases of Iranian oil

May 8, 2025

(Oil Price) – Independent Chinese refiners have started to experience difficulties in procuring cheap Iranian crude oil while others have stopped purchases from Iran, after the United States sanctioned two independent refiners in the past two months, sources with knowledge of the issue have told Reuters. Chinese crude oil imports topped 12 million barrels per day (bpd) in March, the highest volume

Oil rises as market eyes US-China trade talks, lower US output

May 7, 2025

(Investing) – LONDON – Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade talks to be held this weekend and signs of lower U.S. shale output. Brent crude futures climbed 41 cents a barrel, or around 0.7%, to $62.56 a barrel by 1219 GMT, while U.S. West Texas Intermediate crude

Oil prices stable amid economic uncertainty, OPEC+ supply fears

April 28, 2025

(Investing) – LONDON – Oil prices were stable on Monday as investors weighed up uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, as well as the prospect of OPEC+ raising supply. Brent crude futures were down 15 cents, or 0.22%, at $66.72 a barrel, as of 1204 GMT. U.S. West Texas Intermediate

Oil prices rebound on hopes of U.S.-China tariff de-escalation

April 24, 2025

(Oil Price) – Oil prices rose early on Thursday, recouping some of Wednesday’s losses, after signs emerged that there could be some tariff and trade talks between the United States and China. As of 9:28 a.m. EDT on Thursday, the U.S. benchmark, WTI Crude, was up by 0.95% on the day and traded at $62.86. The international benchmark, Brent Crude, traded 0.7%% higher

A note on the news: Game changed

April 22, 2025

(Oil & Gas 360) – The United States is in a worldwide competition with China. Until recently, considerations of this competition focused on the possibility of a war between the US and China in the Taiwan Straits. It is apparent a direct military confrontation in the Taiwan Straits is not in anyone’s best interest. This competition is about far more than

Ball in China’s court for trade talks, White House says

April 16, 2025

(Investing) – WASHINGTON – U.S. President Donald Trump is open to making a trade deal with China but Beijing should make the first move, White House press secretary Karoline Leavitt said on Tuesday. “The ball is in China’s court: China needs to make a deal with us, we don’t have to make a deal with them,” Leavitt told a press briefing,

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