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China’s Decades-Long Oil Boom may Falter this Year

China’s decades-long boom in oil processing could falter this year in a blow to global demand and the aspirations of OPEC+ producers seeking to return supply to the market, reports Bloomberg. Oil refining in the world’s top crude importer is expected to be flat or fall for the first time …

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EU Considers Sanctioning Russian Shipping Giant

The European Union is proposing to sanction Russia’s oil-shipping giant Sovcomflot PJSC (FLOT.MM) in a move to limit the Kremlin’s ability to finance its war against Ukraine, Bloomberg News reported this week, citing a document seen by it. The move would follow similar punitive measures imposed on the leading Russian …

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Trump Criticizes Biden’s “Crazy” EV Mandate, Pledges Policy Reversal

In a recent meeting with House Republicans, former President Donald Trump declared his intention to completely reverse President Joe Biden’s electric vehicle (EV) policies if he is re-elected. Trump criticized the current administration’s push towards battery-powered cars, describing the mandate as “crazy,” according to Idaho Representative Russ Fulcher. He emphasized …

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Is OPEC too Bullish on China’s Oil Demand?

Chinese crude oil imports over the first five months of the year were down by 130,000 bpd from a year earlier. In any other country, this would have been business as usual. In China, it may spell doom for prices. The world’s biggest importer of crude is the logical focus …

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