BEIJING/SINGAPORE: China has bought enough spot crude from the Middle East, Africa and Russia in January to replace lost Iranian oil supply, trade sources said on Friday, putting it in a strong position as it tussles with the Islamic Republic over (...)
BEIJING/SINGAPORE: Saudi Arabia will boost contract crude sales by 10 percent to Asia's biggest refiner Sinopec this year as the world's top oil exporter cements its share of the world's fastest growing fuel market.
Riyadh is boosting exports to (...)
BEIJING/SINGAPORE: China's crude oil imports from Saudi Arabia will likely rise 11 percent next year to hit one million barrels per day, a pace slightly faster than 2010 but off the heady increases in previous years, industry officials told (...)
SINGAPORE: The new front-month December/January Dubai intermonth spread flipped into backwardation this week, the first time in 16 months, as demand for Middle East crude extended its strength into the third month, traders said on Thursday.
The (...)
SINGAPORE: Saudi Arabia, OPEC's top oil exporter, will keep full contracted volumes of crude supply in November to six term buyers in Asia and at least two in Europe, steady with October levels and as expected by most traders, sources with refiners (...)
SINGAPORE: Taiwan's Formosa Petrochemical Corp sold nearly 2.0 million barrels of Oman crude for August loading in the spot market after a blast forced it to shut its refinery in late July, trade sources said on Thursday.
The company declined to (...)
SINGAPORE: Front-month Brent/Dubai Exchange of Futures for Swaps (EFS) for September jumped on Wednesday to the highest since December 2008 when OPEC producers began record supply curbs.
The spread between the price markers for Atlantic Basin and (...)
SINGAPORE: Iraq will supply crude to most Asian term buyers at full contracted volumes for August, compared with an average 10 to 15 percent cut for July, traders said on Wednesday.
"We've got full volumes this time, versus about 10 percent cut (...)
TOKYO/SINGAPORE: Kuwait has notified at least two Asian buyers they will curb crude supplies in July-September by 5 percent below contracted volumes, but will supply full term supplies for the period to at least one in Asia, sources said on (...)
SINGAPORE: Qatar sold via tender up to five cargoes of Deodorized Field Condensate (DFC) for loading in July at stronger differentials on firm naphtha cracks, traders said on Friday.
Qatar International Petroleum Marketing Co, also known as (...)