Tag Archives: Asia

China is now the world’s largest oil importer.

The emirate will no longer remain committed to OPEC agreements.

The trade war between the world’s two biggest economies has weighed heavily on global trade.

Iraq is OPEC’s second-largest oil producer following Saudi Arabia and pumps around 4.6 million bpd.

Qatar announced on Monday that it plans to withdraw from the oil producing group.

Japan protested through diplomatic channels immediately after confirming China’s latest activities.

China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating.

In India. gas is primarily used for fertilizers. followed by power generation. domestic fuel - largely for cooking - transport and petrochemicals.

Russia has for years been cooperating with OPEC. helping to engineer a rebound after a 2014 oil price slump.

Riyadh has suggested OPEC and its allies reduce output by 1 million barrels per day from January 2019 to stem the price falls.