Energy Intelligence’s Post

Tanker Market Monitor Chart of the Week:  Dirty crude oil flows to China As the summer progresses, subdued sentiments in the freight market are particularly evident along the VLCC MEG-China route, with declining ballast speeds and stable dirty tonne days reflecting a cautious approach among operators amid predictions of continued market softness. Simultaneously, economic concerns in China, notably in crucial oil-consuming sectors, have led to reduced crude oil imports and a cautious outlook on oil demand, impacting global energy market dynamics despite OPEC's more optimistic projections. The Signal Ocean Tanker Market Monitor Chart of the Week is now available for FREE in our Newsroom: https://lnkd.in/e5fnK8_C #VLCCMarket #FreightRates #ShippingTrends #MaritimeEconomics #SuezmaxUpdate #OilTankerRates #MaritimeIndustry #ShippingVolatility #TankerMarket #GlobalShipping 

China Needs to Refill its Strategic Oil Reserve  The US is not the only country that needs its strategic oil reserve to be replenished immediately. Similarly, China must refill its oil reserves after continuously depleting them for the majority of 2023; however, a large buying binge that would cause oil prices to soar globally is not anticipated.  China's onshore inventories reached an eight-month low at the beginning of the year, which is probably going to lead to greater purchases on the global market. Estimates of China's oil reserves and usage are critical to the direction of global oil prices. The current price of oil is approximately $80 per barrel, which may not be attractive enough to encourage the government to increase its strategic    reserves. China’s stockpiles have decreased by almost 9% from their peak in last July, and this quarter, its crude stockpiles are probably going to rise. But Chinese demand for restocking reserves in the first half of 2024 is probably going to be cautious, which would disappoint oil market giants. Contact us: WhatsApp: +968 7999 2732 Mail: info@petrodaleel.com LinkedIn: petro-daleel X: Petrodaleel #oilmarket #china #oilprices

While the crude oil market’s immediate focus is on the possibility of Israel striking at Iran’s facilities, the broader backdrop is that demand concerns remain. Asia’s imports were slightly higher in September than August, but are down 200,000 bpd over the first 9 months of the year, confounding OPEC’s optimistic demand growth forecasts. #crude #crudeoil #oil #energy #commodities #OPEC

💡 Latin American oil markets are currently facing a unique dilemma. In our latest insight, Vortexa's Senior Oil Analyst, Rohit Rathod focuses on LatAm oil markets where crude exports have fallen but product imports continue along healthy levels Read more: https://bit.ly/3SMl5iT #Vortexa #VortexaInsights #Crude #Oil

🚨 𝑨𝒕𝒕𝒆𝒏𝒕𝒊𝒐𝒏, 𝒇𝒓𝒆𝒔𝒉 𝒐𝒊𝒍! 🌍💧 The US has become the world’s leading stabilizing oil producer! 🇺🇸💪 US WTI Midland has replaced West African crude as the central blend in the markets between the Atlantic basin and Asia 📈🌊: supplies increased by 3.5 million barrels daily! (47% of supplies went to Europe 🇪🇺 and 43% to Asia 🌏). Previously, West Africa was the key stabilizing oil producer for Europe and Asia. 🌍💔 The launch of Nigeria’s Dangote super refinery means that the bulk of African oil will now be refined locally and not go anywhere else! 🏭🔄 The imbalance in global oil flows caused by the EU embargo has resulted in WTI Midland effectively replacing Urals as the base grade for refineries in northwest Europe. 🌍🚫💼 In addition, the inclusion of WTI Midland among the grades on which the Dated Brent price is determined has strengthened the US Gulf Coast’s position as a critical oil pricing center! 💰🛢️ Speaking of prices, most Wall Street analysts believe oil prices will fall if Trump becomes president again. 📉💼 Of course, he is unlikely to fulfill his promises to bolster domestic oil production, but the imposition of trade tariffs could negatively impact prices. 📊❌ If tariffs slow the global economy, oil prices could fall by $11 to $19 a barrel next year! 🤯 The #Trump administration always creates bearish risks. ⚠️ Donnie has already promised a comprehensive tariff of 10% on all goods imports and 60-100% on Chinese imports. 📈🇨🇳 This will trigger retaliatory duties of the same amount from other countries! 🔄🌍 Despite Trump’s promise to increase America’s oil production under the slogan “storms, baby, storms,” the impact on output will be negligible - it is already at record levels! 🌪️📈 The most likely options are increased leasing and auctioning of acreage and lifting any ban on leasing the National Petroleum Reserve in Alaska. 🌲🛢️ 𝐖𝐞’𝐥𝐥 𝐬𝐞𝐞 𝐡𝐨𝐰 𝐭𝐡𝐢𝐬 𝐩𝐥𝐚𝐲𝐬 𝐨𝐮𝐭. 🤔 𝑷𝒓𝒐𝒇𝒊𝒕𝒔 𝒕𝒐 𝒚’𝒂𝒍𝒍! 💵🙌 #OilIndustry #WTIMidland #GlobalEconomy #EnergyMarket #OilPrices #USOil #DangoteRefinery #TradeTariffs #Investing #EconomyInsights #ForexMarket

China's crude oil imports increased in the first two months of the year compared to the same period in 2023 but were weaker than the preceding months, indicating a softening trend by the world's largest buyer. Source: https://lnkd.in/g5BXieXv #AdvantisBunkering #Advantis #Maritime #Supplychain #Shipping

China’s crude imports rebound amid improving domestic demand. Read more here in this excellent insight by my colleague Emma Li >https://lnkd.in/eX8NYzgs China’s seaborne crude imports surged 11% m-o-m in August, reaching a 10-month high of 10.3mbd. This rebound occurred as refiners boosted run rates to meet the demand seasonal peak expected around September. Chinese oil majors increased their baseline imports from the Middle East (excluding Iran), Russia, and West Africa, with Iraqi imports leading the gains, up by 40% m-o-m. Additionally, Russian crude imports by sea rose by 15%, despite private refiners in East China maintaining stable import volumes. #oilandgas #Vortexainsights #oildemand #energy China’s implied refinery runs (mbd) – net seaborne imports, onshore crude inventories

The weakness in China's crude oil sector is continuing, with a surplus of 930,000 bpd in September as imports and domestic output again far exceeded refinery processing. China is storing oil amid soft domestic demand and relatively low crude prices. #crude #crudeoil #energy #OPEC #China #commodities #refineries

Asian naphtha cracks also to remain weak through 2025 as the olefin sector remains weak due to oversupply and slow downstream demand growth, particularly the key market of China, plays significant role. #OPEC #crudeoil #naphtha #china #refineries

S&P Global | Commodities at Sea Insight #European Refiners Adapt: Crude #Oil #Imports from the US Dip, Norway and Libya Rise Further. • European seaborne crude oil imports experienced a marginal dip of 0.1%, totaling 11.79 million b/d in April. • #Italy led the way in crude imports, registering a significant volume of 2.095 million b/d. • Crude imports from the United States to Europe declined by 23% month-on-month to 1.627 million b/d in April. • #Norway saw a notable surge in crude exports to Europe, increasing by 26% to 1.684 million b/d in April. • April witnessed imports of Libyan crude reaching a record high of 1.068 million b/d. • Imports of Brazilian barrels skyrocketed by 53% to reach 576,000 b/d in April compared to the Q1 2024 average, with Spain emerging as a key importer at 254,000 b/d.