• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 20 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 1 day Governments that wasted massive windfalls
  • 1 day We're freezing! Isn't it great? The carbon tax must be working!
  • 7 hours Which type of Hegemony will China follow
  • 1 day Here is Why People Lose Money Trading Natural Gas
  • 13 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 1 day Let’s take a Historical walk around the Rig
  • 1 day US Shale: Technology
  • 1 day 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 1 day Trump capitulated
  • 2 days Trump has changed into a World Leader
  • 2 days Beijing Must Face Reality That Taiwan is Independent
Alt Text

China Sees Jump In Gasoline, Jet Fuel Exports

A 99-percent utilization rate of…

Editorial Dept

Editorial Dept

More Info

Premium Content

The Next Step In Trump’s Trade War

Markets

- Last week we saw the Treasury Department sanction its first Chinese oil trader - Zhuhai Zhenrong over crude oil purchases from Iran. The move was meant to send a message, but it is unclear that message has been received. The panic now is that Trump could target China’s state-run CNPC with sanctions because it has, according to tanker data, recently deployed a new fleet to transport oil from Iran through one of its subsidiaries. If Washington moves to sanction CNPC that would indicate a major escalation of this conflict. At the same time, panic is being further spread with Bank of America Merrill Lynch’s theory that China could potentially decide to defy the latest U.S. tariff threat by ramping up imports of Iranian crude, which could cause prices to plunge by as much as $20-$30.

- Libya’s NOC says it will gradually restart production at its largest oilfield, El Sharara. The oilfield was shut down after a valve on the pipeline linking it to the Zawiya oil terminal was closed Tuesday last week. A local armed group had earlier prevented NOC staff from reopening the valve. Libya’s production fell to its lowest in five months over this force majeure. Production had fallen below 1 million bpd. Force majeure has not yet been lifted. Force majeure was also declared on the Zawiya terminal on July 20 and then lifted on July 22nd.

- Alberta reports that its oil inventories are now at near two-year lows, following the institution of…




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play