China’s crude imports look poised to recover from a months-long slump as the country relaxes fuel export curbs, raises run rates and snaps up prompt Middle East supplies, with analysts and traders forecasting a return to strategic stockpiling later this year.
China’s crude imports look poised to recover from a months-long slump as the country relaxes fuel export curbs, raises run rates and snaps up prompt Middle East supplies, with analysts and traders forecasting a return to strategic stockpiling later this year.
Chinese oil refiners have been granted more permits to export gasoline, diesel and jet fuel this month, according to people familiar with the matter, in a major relaxation of restrictions imposed during the Iran war.
Chinese oil refiners have been granted more permits to export gasoline, diesel and jet fuel this month, according to people familiar with the matter, in a major relaxation of restrictions imposed during the Iran war.
China’s independent refiners are taking advantage of cheaper Middle Eastern oil after flows accelerated through the Strait of Hormuz, snapping up barrels from producers including Saudi Arabia and Iraq.
China’s independent refiners are taking advantage of cheaper Middle Eastern oil after flows accelerated through the Strait of Hormuz, snapping up barrels from producers including Saudi Arabia and Iraq.
China’s independent refiners are taking advantage of cheaper Middle Eastern oil after flows accelerated through the Strait of Hormuz, snapping up barrels from producers including Saudi Arabia and Iraq.
China’s independent refiners are taking advantage of cheaper Middle Eastern oil after flows accelerated through the Strait of Hormuz, snapping up barrels from producers including Saudi Arabia and Iraq.
A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington.
A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington.
Iran's main oil export terminal at Kharg Island in the Persian Gulf. Photographer: Atta Kenare/AFP/Getty Images
The war in Iran has rewired China’s petrochemicals trade, allowing plants to ease their glut of the key building blocks for plastics, rubber and textiles by boosting exports.
The war in Iran has rewired China’s petrochemicals trade, allowing plants to ease their glut of the key building blocks for plastics, rubber and textiles by boosting exports.
China has lifted some restrictions on oil-product exports in the past week, rolling back measures introduced to safeguard domestic supplies shortly after the war began in the Middle East.
China has lifted some restrictions on oil-product exports in the past week, rolling back measures introduced to safeguard domestic supplies shortly after the war began in the Middle East.
The world’s top crude oil importer is set to take even fewer barrels this month, extending its exceptionally subdued appetite since the start of the Iran war.
The world’s top crude oil importer is set to take even fewer barrels this month, extending its exceptionally subdued appetite since the start of the Iran war.
A tanker unloading imported crude oil at a terminal port in Qingdao, Shandong province, China on June 9. (Photo by CN-STR / AFP via Getty Images) / China OUT
China’s independent oil refiners have slashed operating rates to a nine-year low, highlighting the lingering impact of the US-Iran war on the leading importer of Tehran’s crude.
China’s independent oil refiners have slashed operating rates to a nine-year low, highlighting the lingering impact of the US-Iran war on the leading importer of Tehran’s crude.
Crude oil refinery in Nanjing, China. Photographer: HECTOR RETAMAL/AFP
Sellers of Iranian crude to China have slashed prices after the Islamic Republic started shipping out millions of barrels following the interim peace deal that with the US.
Sellers of Iranian crude to China have slashed prices after the Islamic Republic started shipping out millions of barrels following the interim peace deal that with the US.
Over 40 tankers carrying Iranian crude were observed on the water, with most ships en route to Asian buyers, according to ship-tracking data from Bloomberg and Vortexa.
Chinese oil imports may never fully recover from the Iran war, with analysts saying the conflict accelerated a permanent shift away from fuels like gasoline and diesel.
Chinese oil imports may never fully recover from the Iran war, with analysts saying the conflict accelerated a permanent shift away from fuels like gasoline and diesel.
A tanker at a crude oil terminal at the port in Qingdao, China, on June 14. Source: -/AFP
Chinese oil refiners sharply reduced output last month to the weakest level in nearly four years, after the country’s crude imports plunged to an eight-year low due to the near-halt to shipments from the Persian Gulf.
Chinese oil refiners sharply reduced output last month to the weakest level in nearly four years, after the country’s crude imports plunged to an eight-year low due to the near-halt to shipments from the Persian Gulf.
Oil markets have reacted with enthusiasm to an interim agreement between US and Iran which should reopen the Strait of Hormuz and restore oil and gas flows — but that return to normality could be months away, analysts warn.
Oil markets have reacted with enthusiasm to an interim agreement between US and Iran which should reopen the Strait of Hormuz and restore oil and gas flows — but that return to normality could be months away, analysts warn.
Iranian oil shipments to China, a resilient trade that’s survived years of US sanctions to provide a crucial economic lifeline to Tehran, is coming under huge strain from waning demand and an American blockade.
Iranian oil shipments to China, a resilient trade that’s survived years of US sanctions to provide a crucial economic lifeline to Tehran, is coming under huge strain from waning demand and an American blockade.
Iranian oil shipments to China, a resilient trade that’s survived years of US sanctions to provide a crucial economic lifeline to Tehran, is coming under huge strain from waning demand and an American blockade.
Iranian oil shipments to China, a resilient trade that’s survived years of US sanctions to provide a crucial economic lifeline to Tehran, is coming under huge strain from waning demand and an American blockade.
China has started tapping its commercial crude reserves to help offset the supply shock from the Iran war, although the world’s biggest oil importer is continuing to prioritize lower refinery use and fuel export limits to manage the fallout.
China has started tapping its commercial crude reserves to help offset the supply shock from the Iran war, although the world’s biggest oil importer is continuing to prioritize lower refinery use and fuel export limits to manage the fallout.
China’s buying of oil from overseas slumped to the lowest in more than eight years last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels.
China’s buying of oil from overseas slumped to the lowest in more than eight years last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels.
China’s buying of oil from overseas slumped to the lowest in more than eight years last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels.
China’s buying of oil from overseas slumped to the lowest in more than eight years last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels.
Iranian crude has been slashed for Chinese buyers in an effort to entice interest from independent oil refiners, which have reduced operating rates to stem losses from weaker margins.
Iranian crude has been slashed for Chinese buyers in an effort to entice interest from independent oil refiners, which have reduced operating rates to stem losses from weaker margins.
Anmelden
Bloomberg Markets
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