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China’s Oil Demand Is Set To Hit A Record High In 2023
China’s Oil Demand Is Set To Hit A Record High In 2023 China’s oil demand is expected to hit a record high 16 million bpd this year, an increase of 800,000 bpd. Having lifted its zero-Covid policy, China is currently suffering through an exit wave of Covid but should recover in the second quarter. China […]
Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation
Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation People walk near power plant number 10 at Saudi Electricity Company’s Central Operation Area, south of Riyadh, April 27, 2012./File Photo Summary This includes content produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. Kingdom burns Russian fuel […]
Australian fuel import bill going sky-high
Australian fuel import bill going sky-high In March 2022 Australia’s petroleum product imports have reached almost AU$ 4 bn per month, an increase of 70% compared to December 2019. Fig 1: Petroleum product imports by volume (black lines) and value (brown line) Fig 2: Australian dollar to US$ exchange rate The Australian Dollar was also […]
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the United States—at least for now—isn’t as reliant on oil from the Middle East like it used […]
No, The U.S. Is Not A Net Exporter Of Crude Oil
No, The U.S. Is Not A Net Exporter Of Crude Oil Last week Bloomberg created quite a stir with this story: The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years. I have seen a number of follow-up stories that praised the significance of this development, but others laughed it […]
Does The U.S. Really Need Saudi Oil?
Does The U.S. Really Need Saudi Oil? “Saudi Arabia — if we broke with them, I think your oil prices would go through the roof. I’ve kept them down,” President Trump told reporters on Tuesday. “They’ve helped me keep them down. Right now we have low oil prices, or relatively. I’d like to see it […]
Sino-Russian interdependence will be based on oil
Sino-Russian interdependence will be based on oil Although Beijing is Moscow’s largest trading partner, while Russia only ranks in the second ten among China’s importers, the Kremlin is strategically the most important contractor because it supplies the most desirable product – oil – and Chinese demand for this raw material is growing. It appears that […]
Saudis Cut Oil Exports To U.S. To Boost Crude Prices
Saudis Cut Oil Exports To U.S. To Boost Crude Prices Saudi Arabia has been slashing oil exports to the United States over the past two months, in what looks like a move to force a reduction in the world’s most transparently reported inventories that could put the Saudis on a collision course with U.S. President […]
Iran’s Top Oil Customers Resist U.S. Calls For Zero Imports
Iran’s Top Oil Customers Resist U.S. Calls For Zero Imports Just a few days before U.S. sanctions on Iranian oil exports return on November 5, the keywords about how much of Iran’s oil will come off the market are ‘lack of clarity’. On the one hand, it’s unclear how much Iranian oil will really be […]
Chinese Imports Of US Crude Have “Totally Stopped” As Tariff Threats Persist
Chinese Imports Of US Crude Have “Totally Stopped” As Tariff Threats Persist It has been roughly two months since China threatened to impose a 25% tariff on US energy imports (it eventually went back on those threats), and less than two weeks since the latest round of tariffs has been implemented. But even as China […]
Denmark Becomes Net Oil Importer For First Time In 25 Years
Denmark Becomes Net Oil Importer For First Time In 25 Years For the first time since 1993, Denmark is on track to become a net oil importer this year, as oil production in the Danish part of the North Sea will be lower than the country’s consumption, the Danish Energy Agency said on Thursday, revising […]
Canada Frees Itself From Saudi Oil Imports
Canada Frees Itself From Saudi Oil Imports The ongoing political row between Canada and Saudi Arabia over Ottawa’s demand that the kingdom release detained women’s rights activists in the country is picking up momentum. Earlier this week, Saudi Arabia ordered the Canadian ambassador to leave Saudi Arabia “within 24 hours” after his country criticized the […]
Chinese Refiner Halts US Oil Purchases, May Use Iran Oil Instead
Chinese Refiner Halts US Oil Purchases, May Use Iran Oil Instead With the US and China contemplating their next moves in what is now officially a trade war, a parallel narrative is developing in the world of energy where Asian oil refiners are racing to secure crude supplies in anticipation of an escalating trade war […]
Areas Of The World More Vulnerable To Collapse
Areas Of The World More Vulnerable To Collapse Certain areas of the world are more vulnerable to economic and societal collapse. While most analysts gauge the strength or weakness of an economy based on its outstanding debt or debt to GDP ratio, there is another factor that is a much better indicator. To understand which areas […]
Update on Australian oil import vulnerability May 2018
Update on Australian oil import vulnerability May 2018 How well is Australia prepared? The Turnbull government has just started yet another fuel security review. Similar efforts in previous Energy Security Assessments and Senate Inquiries resulted in little action (see earlier articles on this website below). In fact, the government’s latest Budget 2018 contains numerous projects […]
