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- The additional batch of crude oil import quota allocation in the last month of 2023 allows independents to import crude oil at prices that they think are good deals. With more crude oil storage capacities online, China continues to send crude oil to inventories in 2023.
www.channelnewsasia.com/business/instant-view-chinas-2023-crude-oil-iron-ore-imports-hit-all-time-high-4042771Instant view: China's 2023 crude oil, iron ore imports hit ...
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Will China send crude oil to inventories in 2023?
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What happened to China's Crude oil market in 2023?
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Why did China's Crude oil imports surge in August?
Will China's quotas help refiners buy crude oil in 2024?
Jan 12, 2024 · China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.
Mar 20, 2023 · China still added more crude oil to inventories in the first two months of the year, despite lower imports and higher refinery processing rates.
- Evidence of demand destruction is appearing with preliminary September data showing that US gasoline consumption fell to two-decade lows. Buoyant demand growth in China, India and Brazil, nevertheless underpins an increase of 2.3 mb/d to 101.9 mb/d in 2023, of which China accounts for 77%.
- World oil output rose 270 kb/d in September to 101.6 mb/d, led by higher production from Nigeria and Kazakhstan. The Israel-Hamas conflict has not had any direct impact on oil flows.
- Refinery margins fell sharply from near-record levels over the course of September and into October, as gasoline and fuel oil cracks collapsed, but overall remained above the seasonal average.
- Global observed oil inventories tumbled by 63.9 mb in August, led by a massive 102.3 mb draw in crude oil stocks. Preliminary data suggest that on land inventories continued to draw in September, while oil on water rebounded as exports recovered.
Jan 2, 2024 · At the end of 2023, with nearly no crude oil import quotas left, China’s independent refiners stayed away from the spot crude market, which resulted in lower Chinese crude oil imports and lower...
Sep 7, 2023 · China's crude oil imports surged in August, customs data showed on Thursday, as refiners built inventories and increased processing to benefit from higher profits from exporting fuel.
Jan 18, 2023 · Much of the surplus oil appears to have ended up in emerging markets, including China, and on tankers at sea. By end-November, observed non-OECD inventories had risen by 75 mb y-o-y compared to a 233 mb decline in the OECD where 270 mb of government reserves were released.
