China has stockpiled enough natural gas to meet winter demand, according to analysts, as importers acted early to build supplies in anticipation of price spikes from the Iran war.
China’s largest desert oil field has produced more than 26 million tonnes of oil and gas from reservoirs more than 6,000 meters underground, according to China National Petroleum Corporation (CNPC). The output was recorded at the Hade-Fuman oil field, located on the northern edge of the Taklimakan Desert in northwest China’s Xinjiang Uygur Autonomous Region. […]
China has decided to restart exports of fuels, after a one-week suspension. This should bring some relief to fuel markets, and especially diesel markets, where prices are running at record highs, not least because of the fuel export suspension news out of China last week. The information comes from unnamed trading sources who spoke to […]
China is accelerating efforts to produce more oil from ultra-deep formations
China’s largest desert oil field has produced more than 26 million tonnes of oil and gas from reservoirs more than 6,000 meters underground, according to China National Petroleum Corporation (CNPC) on Monday. The output was recorded at the Hade-Fuman oil field, located on the northern edge of the Taklimakan Desert in northwest China’s Xinjiang Uygur […]
Saudi Arabia has sold almost 100 million barrels of oil to Asian buyers since the middle of last week, according to traders familiar with the matter, helping to avert a looming supply crunch in the region. The crude for delivery in October and November will be sent via the Strait of Hormuz, said the traders, […]
China’s Sinopec, the world’s top refiner by capacity, expects Chinese oil demand to drop by 8.9% in 2026 from a year earlier amid demand destruction from higher oil prices and the acceleration of electric vehicle adoption.
Chinese independent refiners may be about to start reducing their processing rates as international oil prices rise and supply from major exporters such as Venezuela and Iran dries up as a result of U.S. foreign policy decisions.
Oil moved higher on a thin day of holiday trading as risks to oil flows through the Strait of Hormuz continued to support prices, alongside the return of Chinese crude purchasing.
The prices of crudes from Canada, South America, and Africa have jumped in recent weeks as Chinese oil import demand is rising from a decade-low, benchmark prices rally, and Middle East supply remains disrupted.