Asia's crude oil imports drop in 2024 as weak China weighs
2 days ago · The world's top importing region saw arrivals of 26.51 million barrels per day (bpd) in 2024, down 1.4% from the 26.88 million bpd in 2023, according to data compiled by LSEG Oil Research.
China Oil Refineries Face Reckoning as Beijing Tackles Overcapacity
2 days ago · (Bloomberg) -- China’s independent oil refineries face a reckoning this year as Beijing tackles overcapacity in the industry, and the crude they rely on becomes a lot scarcer. Over a fifth of the country’s oil refining is handled by smaller, privately owned outfits, many of them housed in the eastern province of Shandong.
China Issues Second Batch of Crude Oil Import Quotas
Dec 30, 2024 · China has just given a potential boost to its crude oil imports as it has issued a second batch of import quotas for 2025 to its independent refiners, trade sources told Reuters on Monday. Unlike ...
Oil prices post 3% annual decline, slipping for second year in a row
Dec 31, 2024 · Oil prices fell around 3% in 2024, slipping for a second straight year, as the post-pandemic demand recovery stalled, China's economy struggled, and the U.S. and other non-OPEC producers pumped ...
China issues extra crude oil import quota to independent …
Nov 25, 2024 · China has issued an additional crude oil import quota of at least 5.84 million metric tons (116,800 barrels per day) to independent refiners for cargoes arriving by end-2024 and in early...
Oil News: China’s Policy Shift Fuels Demand Outlook as Traders …
Dec 11, 2024 · China's monetary easing policy boosts crude oil demand outlook, with November imports rising 14% year-over-year. EIA predicts U.S. net crude imports will drop 20% in 2025, hitting the lowest...
China Issues Huge Batch Of Crude Oil Import Quotas
Jan 2, 2024 · China has allocated a massive batch of crude oil import quotas to refiners, raising the allowances from early last year by around 60% and allocating full-year quotas to some, according to...
China issues full-year crude import quota in Jan, boosting refiners ...
China has set its 2024 fuel oil import limit at 20 million mt, up from 19.2 million mt for 2023, S&P Global reported. The independent refineries imported 11.91 million mt of fuel oil over January-November 2023, surging from merely 1.24 million mt in …
China Could Boost Crude Oil Imports Amid Higher Year-End Quotas
Nov 25, 2024 · Chinese authorities have issued additional quotas to the private refiners, the so-called teapots, to import at least another 5.84 million metric tons of crude by the end of the year or early next...
Oil Prices Rise; Chinese Economy and Stimulus Set to Be in Focus
0928 GMT – Oil prices rise, with Brent crude up 0.2% at $73.00 a barrel and WTI up 0.3% at $69.81 a barrel. Oil’s gains reflect market optimism around a recovery in demand for crude from China ...