• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 22 hours America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 8 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
California Startup Boasts Breakthrough in Hydrogen Storage

California Startup Boasts Breakthrough in Hydrogen Storage

Despite challenges, startups like H2MOF…

China’s EV Growth Set To Explode in 2024

China’s EV Growth Set To Explode in 2024

China leads the global electric…

Editorial Dept

Editorial Dept

More Info

Premium Content

Saudi Arabia Aims To Regain Market Share In China

1. Saudi Arabia Seeks to Regain Market Share in China

- As Saudi Arabia is finalizing its 2024 term contracts, to be done by the end of October, the Middle Eastern kingdom is set to increase its crude supplies to China as new refining capacity lifts offtake.

- Russia has become the top crude supplier to China with 2.1 million b/d exported in January-July, some 300,000 b/d higher than Saudi Arabia’s exports with Iraq coming in at third place with 1.2 million b/d.

- Saudi growth will be led by the 800,000 b/d Zhejiang Petroleum & Chemical refinery which started to load crude under its huge 480,000 b/d supply deal with Aramco in September, whilst the 400,000 b/d Yulong refinery in Shandong is set to start importing Arab crude next year.

- Saudi Arabia currently accounts for 16% of the Chinese crude market, down from 17.2% this time last year, but these new volumes should help Aramco regain lost territory in a country where most refineries are configured to run on Saudi crude.

2. China’s Huge Zinc Imports Rekindle Hopes of Growth

- Chinese imports of zinc have recovered to levels not seen since April 2019, bolstering hopes that the Asian country’s economic growth might be on an upward trajectory in the second half of 2023.

- Total zinc imports into China came in at 76,800 metric tonnes in July, in just one month equalling the entire annual tally of 2022 as traders are betting on policy support from Beijing.

-…





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