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Nov 3, 2022 · NEW YORK, Nov 3 (Reuters) - Oil prices slid about 2% on Thursday as China stood by its zero-COVID policy and an increase in U.S. interest rates pushed up the dollar, raising fears of a global...
Aug 22, 2023 · Economic risks in China are mounting, peak summer driving season in the United States is ending, and non-OPEC supply has been more resilient than many anticipated. Since the Federal Reserve began to hike interest rates in March 2022 to contain inflation, the oil market has been preoccupied with risks to growth in advanced economies.
Dec 6, 2022 · At a Glance. China is the world’s second-largest economy and the biggest crude importer. Earlier in 2022, crude oil was in backwardation. In November, the powerful influence of China on oil prices was on full display as fears of economic weakness associated with the maintenance of its zero-COVID policy shook markets.
Jan 25, 2022 · China's stockpiling of crude oil ground to almost a halt in 2021, reversing years of strong increases as the world's biggest importer of the fuel built up strategic reserves.
- World oil demand is set to contract by 110 kb/d y-o-y in 4Q22, reaching 100.8 mb/d, up by 130 kb/d compared with last month’s Report. Strong gasoil use in key consuming countries outweighs weak European and Asian petrochemical deliveries.
- World oil supply fell 190 kb/d in November to 101.7 mb/d, breaking a five-month uptrend, after Saudi Arabia and other Gulf countries curbed supply in line with lower OPEC+ output targets.
- Global refinery throughputs surged 2.2 mb/d in November to the highest since January 2020, resulting in sharply lower diesel and gasoline cracks and refinery margins.
- Russian oil exports increased by 270 kb/d to 8.1 mb/d, the highest since April as diesel exports rose by 300 kb/d to 1.1 mb/d. Crude oil loadings were largely unchanged m-o-m, even as shipments to the EU fell by 430 kb/d to 1.1 mb/d.
Jun 15, 2022 · World oil demand is forecast to reach 101.6 mb/d in 2023, surpassing pre-pandemic levels. While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 mb/d in 2022 to 2.2 mb/d in 2023.
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May 12, 2022 · For the year as a whole, global oil demand is forecast to average 99.4 mb/d in 2022, up 1.8 mb/d y-o-y. As restrictions in China ease, summer driving picks up and jet fuel continues to recover, world oil demand is set to rise by 3.6 mb/d from an April low through August.
