China crude oil

Oil Demand Increases Above Pre-pandemic Level

Even after the troublesome covid rates, the demand for oil is climbing rapidly globally, says an article published in ShipAndBunker.

CEO of BP on China’s oil demand

Bernard Looney, Chief Executive Officer at BP said, “China’s oil demand is above pre-pandemic levels.Organisation of Petroleum Exporting Countries this week decided to move forward with a gradual crude protection increase, anticipating a strong demand.”

He added, “America is almost back to where it was, the vaccines are going to kick...

https://mfame.guru/oil-demand-increases-above-pre-pandemic-level/

Imports Major Commodities in China Coming To A Level

China has almost single-handedly rescued commodity markets throughout the global coronavirus pandemic, but there are signs that its appetite for imports is levelling off, albeit at robust levels, reports Reuters. 

Imports Data Show Minor Changes

November trade data released on Monday painted a largely steady picture, with imports of major commodities showing only relatively minor changes from both month earlier, and year earlier comparisons.

This isn’t to say that China’s commodity demand is...

https://mfame.guru/imports-major-commodities-in-china-coming-to-a-level/

Chinese Bound Crude Volume Fall Hints Faltering Demand

  • Tankers bound for the Asian country reduced highlighting buying weakness.
  • The Chinese bound crude volume plunged to its lowest level since early May.
  • The rise in global COVID-19 infections, and the world bracing for a second wave of the virus caused faltering demand.
  • The number of very large and ultra-large crude carriers bound for China is slumping.
  • China’s demand for oil seems to be slowing, with a slip in physical prices. 

The reduced number of tankers bound for the Asian country highlights...

https://mfame.guru/chinese-bound-crude-volume-fall-hints-faltering-demand/

Coronavirus Impact Spreads! Disruption Starting To Spread To Neighboring Economies!

  • Trade market is passing through a period of disruption forced by the coronavirus outbreak, affecting physical supply chains.
  • Outbreak has a negative impact upon exports coming from China to the U.S. and Europe.
  • The signs indicate a major dislocation in global supply chains and commodity trade, with situation expected to get worse for some products.
  • The disruption to the 90% trade transported through the sea is expected to impose a drop in imports at U.S. retail container ports during February.

http://mfame.guru/coronavirus-impact-spreads-disruption-starting-to-spread-to-neighboring-economies/