The crude oil price plunge of more than 50% since last June has proved a mixed blessing for global economies. It has cut deep into the coffers of oil producing nations while providing much needed relief for oil and natural gas import dependent countries. China, the world’s second largest oil importer, is also taking advantage… Keep reading →
Over the past few months, with oil prices at historical lows, China imported more oil than it needed, putting extra capacity into storage and boosting monthly imports to a high of 7.2 million barrels per day in December. According to price reporting agency Platts, around 300,000 barrels per day were likely earmarked for commercial storage… Keep reading →
Data for the first half of the year is trickling in on the world’s largest energy consumer. Here, we take a look at the trends behind the numbers. Crude imports are up, but that’s only half the story. Imports of crude oil rose 10.2% to around 6.13 million barrels per day in the first six… Keep reading →
