• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 19 hours "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 4 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 9 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 12 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 5 days The Federal Reserve and Money...Aspects which are not widely known
  • 3 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 9 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 12 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 13 days Goldman Betting on Cryptocurrencies
  • 16 days Сryptocurrency predictions
Editorial Dept

Editorial Dept

More Info

Premium Content

Chinese Power Demand Is Set To Soar

1. A Flotilla of US Oil Is Moving Toward Asia

- Deliveries of US crude to Asia are set to reach an all-time high this month, soaring to 1.8 million b/d as the relative discount of WTI to other global benchmarks makes American barrels increasingly profitable.

- As recently as a couple of days ago WTI still traded at a 9 per barrel discount to Brent and a 6 per barrel discount to the Asian benchmark Dubai, with South Korea, China, and India all joining the buying spree.

- South Korea will remain the biggest buyer of US crude regionally, importing a record 620,000 b/d in November, while China will receive the highest volume since December 2020 (approximately 450,000 b/d).

- Chinese buying is particularly noteworthy as it comes after the huge 15-million-ton product export quota allocated in September, driving refinery runs much higher since.

2. China Woes Sink Bright Prospects for Iron Ore

- Iron ore has become one of the poorest performing commodities this year, writes Bloomberg, with Asian futures falling for seven straight months already, the worst run on record.

- Still overly dependent on Chinese demand, iron ore futures have dropped to almost $80 per metric ton, a third of what they were at their May 2022 peak.

- China’s Communist Party congress failed to introduce large-scale stimulus measures for the country’s real estate, which combined with anti-pollution curbs and government-mandated steel output…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News