Are We Nearing Peak Oil Supply?
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-U.S.$20 a barrel in this downturn Continue Reading
Ocean Carrier MOL to Cut Fleet on Shrinking Trade
“As a result of our forecasts we concluded that a significant decline in ocean transport volume and a restrained stance on customers’ investments will be unavoidable in the foreseeable future,” Continue Reading
India Scrambles To Keep Up With Soaring Fuel Demand
India’s refinery capacity utilization picked up in May to an average of 77 percent after the world’s third-largest oil importer started to ease the nationwide lockdown, data from the oil Continue Reading
Coronavirus Races Across Brazil and Latin America, a Warning to Poor Nations
In early May, the new coronavirus swept through the crowded homes in Alley 24 of Rocinha, one of the largest of Brazil’s favelas, or slum communities. Twenty of the 35 Continue Reading
Earthquake Takes Mexico’s Largest Refinery Offline
Mexico’s largest oil refinery, the Salina Cruz refinery, is offline after a fire broke out in the refinery following a 7.4 magnitude earthquake in the area. Pemex, Mexico’s state-run oil Continue Reading
Coronavirus Cases Top 9.1 Million Globally; Second Wave Hits Seoul
Tech companies respond to President Trump’s order to temporarily suspend work visas; MLB plans to restart a shortened 2020 season; Saudi Arabia scales back the most important Muslim pilgrimage. WSJ’s Continue Reading
South Korea data: US crude imports suffer biggest ever on-year drop in May
South Korea’s crude oil imports from the US in May dropped 35.7% from a year earlier, which marks the biggest decline since the country began US crude imports, data released Continue Reading
Port congestion in China set to put brakes on Shandong refineries’ rising crude throughput, run rates
The recent surge in China’s crude procurement activity on the back of low oil prices has led to severe port congestion in Shandong province in recent weeks, causing logistical constraints Continue Reading
CHINA DATA: May gasoline exports fall 20% on year, jet fuel slumps 62% to 5-year low
China’s gasoline exports fell 20% year on year to a 14-month low of 680,000 mt in May, while jet fuel exports plunged 62% over the same period to a five-year Continue Reading
Trump threat to ‘decouple’ U.S. and China hits trade, investment reality
Conflicting talk from Trump administration officials about “decoupling” the U.S. economy from China is running into challenging reality: Chinese imports of U.S. goods are rising, investment by American companies into Continue Reading