China’s Oil Imports Soar In April
China crude oil imports increased in April to about 9.84 million bpd as demand for fuels began to rebound, Reuters reports , citing customs data. The country’s overall exports posted Continue Reading
China and U.S. Agree to Cooperate, Work to Implement Trade Deal
The top trade negotiators for China and the U.S. pledged to create favorable conditions for implementation of the bilateral trade deal and cooperate on the economy and public health. China’s Vice Continue Reading
China, U.S. stand by trade deal as coronavirus pushes relations to worst in decades
President Trump speaks before signing the trade agreement with Chinese Vice Premier Liu He at the White House on Jan. 15. (Jabin Botsford/The Washington Post) U.S. and Chinese economic officials Continue Reading
China independent refineries’ April crude imports up 8% at 13.2 mil mt from March
Crude imports for China’s independent refineries further rebounded 8.3% at 13.19 million mt in April, or 3.22 million b/d, from 12.2 million mt in March, with Shandong independent refineries booking Continue Reading
China exports rebound in April but more weakness ahead
China’s exports rebounded in April to rise 3.5% over a year earlier, but forecasters warned that strength is unlikely to last as the coronavirus pandemic depresses global consumer demand. Exports Continue Reading
A Harvard study tying coronavirus death rates to pollution is causing an uproar in Washington
An early study from Harvard University linking dirty air to the worst coronavirus outcomes has quickly become a political football in Washington. Presidential candidates, agency regulators, oil lobbyists and members of Congress Continue Reading
Turning Oil Wells Back on Is Trickier Than Shutting Them Off
With thousands of oil wells choking back or completely shutting off production, companies already are looking ahead to what may prove to be an even bigger challenge: turning wells back on. U.S. Continue Reading
The Glut Drowning the Oil Market
Lockdown measures are crippling demand, and supply isn’t falling quickly enough to keep up. Oil-storage tanks around the world are rapidly filling with crude, leaving the new production coming out of Continue Reading
Government Orders Alone Didn’t Close the Economy. They Probably Can’t Reopen It.
In the weeks before states around the country issued lockdown orders this spring, Americans were already hunkering down. They were spending less, traveling less, dining out less. Small businesses were Continue Reading
U.S. Oil Companies Are Cutting Production Much Faster Than Expected
The United States is on track to cut 1.7 million barrels of oil production per day, according to Reuters calculations of state and company data shared on Thursday. It was Continue Reading