Tag Archives: Reuters International News Agency

SPR releases are a short-term solution but they do buy some time for OPEC countries to bring additional spare-capacity on line.

India’s refining capacity would increase to about 439 million tonnes per year by the financial year of 2030.

China’s refining capacity will grow to 880 million tonnes a year. equivalent to 17.6 million barrels per day. by 2020.

Some traders are forecasting that the sanctions could remove up to 1.5 million barrels per day of crude from the market.

Saudi Arabia pledged in June to increase its crude oil production to help rein in prices.

The United States will target Iran’s oil exports with sanctions from Nov. 4.

The U.S. seeks to reduce Iranian oil exports to zero even for a month.

The threats of disruption as well as the early supply cuts have helped to lift Brent crude futures to nearly $80 a barrel this month.

ATC was set up in 2012 to market refined products. base oils and bulk petrochemicals.

Unipec is the trading arm of Asia’s largest refiner Sinopec.