AP NewsWall Street drifts lower and crude oil prices rise AP News
3 days agoIn stock markets abroad, Hong Kong's Hang Seng fell 0.6% following the harsh words tossed between the United States and China. A report over the weekend also said that China's
The weakness in Asia's crude imports in the January-February period was driven by China, with the world's top oil importer seeing arrivals of 10.42 million bpd, down 840,000 bpd
SweetcrudereportsGlobal oil markets under pressure as Asia destocks, China
Crude oil producers from Europe, Africa and the United States faced difficulties selling to Asia, especially China, as buyers took cheaper oil from storage while refinery maintenance has
Asia's imports of crude oil ticked lower in the first half of 2025 from the same period last year, defying expectations that the top-consuming continent would lead global demand growth.
UPDATE 1-Global oil markets under pressure as Asia destocks,
Crude oil producers from Europe, Africa and the United States faced difficulties selling to Asia, especially China, as buyers took cheaper oil from storage while refinery maintenance has
Global oil markets under pressure as Asia destocks 2021-03-26 e has reduced demand, industry sources said. Chinese independent refiners, which account for a fifth of the
Business RecorderGlobal oil markets under pressure as Asia destocks, China
Flurry of offers from storage as Brent in backwardation. * Asia Q2 demand lower on refinery maintenance. * Sellers of Russian, African, US oil grades cut prices.
World Economy. World Economy News Home / Oil & Energy / Oil & Companies News / Global oil markets under pressure as Asia destocks, China imports slowed. Global oil markets under
Global oil markets under pressure as Asia destocks, China imports
Asia. Global oil markets under pressure as Asia destocks,
World-wide oil markets below tension as Asia destocks, China imports slowed. Technology Global World-wide oil markets below tension as Asia destocks, China imports slowed By FeliciaF.Rose
ET EnergyWorldOil markets Latest oil markets,Information & Updates
Global oil markets under pressure as Asia destocks, China imports slowed. Chinese independent refiners, which account for a fifth of the country's imports, have slowed imports in the second
* Flurry of offers from storage as Brent in backwardation * Asia Q2 demand lower on refinery maintenance * Sellers of Russian, African, U.S. oil grades cut prices By Florence Tan,
marketscreenerGlobal oil markets under pressure as Asia destocks, China imports
Crude oil producers from Europe, Africa and the United States faced difficulties selling to Asia, especially China, as buyers took cheaper oil from storage while refinery maintenance has
Not clear to me how the oil market is forecasting. Slight backwardation. Really a flat futures curve so the market is thinking probably slightly down over the next few months. Certainly Europe
Poten & Partners Daily Briefing
Global oil markets under pressure as Asia destocks, China imports slowed. Crude oil producers from Europe, Africa and the United States faced difficulties selling to Asia, especially China, as buyers
16 laden crude and product oil tankers due to sail through the canal and now delayed by the incident. The load of the tankers amounted to 870,000 tonnes of crude and 670,000 tonnes of clean oil
- Why are Asia's crude oil demand forecasts undermining OPEC's 2024 forecasts?
- The lack of growth in Asia's imports of crude oil in the first half goes some way to undermining the 2024 demand forecasts from major industry groups such as the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC).
- How has China impacted the oil market?
- The recent downturn in China has been even more acute than expected, with oil demand in July declining year‑on‑year for a fourth consecutive month. At the same time, growth outside of China is tepid at best. This weaker demand environment has helped fuel a sharp sell-off in oil markets.
- Are imports a key driver of oil demand in Asia?
- Of course, imports are only one component of overall demand, others including domestic oil production and changes in inventory levels. But in Asia, imports are the key driver of demand given the region's reliance on oil arriving in tankers, or via pipelines from Russia and central Asia in the case of China.
- Will Asia's imports be strong in the second half?
- For the demand forecasts made by the IEA and OPEC, it's certain that Asia's imports are going to have to be strong in the second half, especially those for China. OPEC's June monthly oil market report forecast that China's oil demand would grow by 720,000 bpd in 2024 over 2023, while the IEA is expecting an expansion of 500,000 bpd.
- Is global oil demand slowing down?
- Monthly data reported by countries representing 80% of global oil demand for the first six months of 2024 are now available. The data confirm the sharp slowdown in the rate of growth in oil consumption. Global demand rose by 800 000 b/d, or 0.8%, year‑on‑year during the first half of the year.
- Will Asia lead global demand growth in 2024?
- China Daily via REUTERS/File Photo Purchase Licensing Rights LAUNCESTON, Australia, July 1 (Reuters) - Asia's imports of crude oil ticked lower in the first half of 2024 from the same period last year, defying expectations that the top-consuming continent would lead global demand growth.
