Tag Archives: China

Oil Down amid Weak Economic Data from US and China

Oil prices declined on Tuesday following weak economic data from China and the US, while growing expectations that the US Federal Reserve (Fed) will lower interest rates and ongoing conflicts in the Middle East limited further price falls. International benchmark Brent crude decreased by 0.2% to $71.69 per barrel at …

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Is China’s Demand for Oil Nearing Its Peak?

Uncertainty about Chinese oil demand has become the single most important bearish factor for oil. Every time analysts cite lower prices it is because of uncertainty about Chinese demand—or the potential certainty that this demand is not going higher. As the world’s largest importer of oil, the Asian powerhouse has …

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India Surpasses China as Largest Importer of Russian Oil

India has become the world’s biggest importer of Russian oil, surpassing China, Reuters has reported. Data on Indian shipments from trade and industry showed that the country imported 2.07 million barrels per day (bpd) of Russian crude in July, good for a 4.2% M/M and 12% Y/Y increase. According to …

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Iraq Ranks Fourth Largest Oil Supplier to China in July

Iraq was the fourth-largest oil exporter to China in July 2024, according to data released by China’s General Administration of Customs on Wednesday. Iraq shipped 4.36 million metric tons of crude oil to China in July, equivalent to approximately 33.93 million barrels, marking a 12.1% decrease from June 2024, when …

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China Greenlights Record-Breaking Nuclear Expansion

China approved the construction of 11 new nuclear reactors on Monday, breaking a record and once again demonstrating its all-of-the-above attitude to energy security. The country is building more nuclear power plants than any other country in the world—just like its coal power plants—and based on those record approvals, it …

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