Tag Archives: Crude Oil

Chinese oil importers are shying away from buying US crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be temporary. Not a single tanker has loaded crude oil from the United States bound for …

The US is set to overtake Saudi Arabia as the world’s number two oil producer this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday. “This year promises to be a record-setting one for the US,” the IEA wrote in its …

Gulf Arab energy companies issued record debt this year as producers opted to exploit lower borrowing costs to fund expansion plans. Oil and gas producers, pipeline operators and refiners in Kuwait, the United Arab Emirates, Saudi Arabia, Oman, Bahrain and Qatar borrowed $28.7 billion through bonds and syndicated loans in …

PetroChina is this week unloading the first Chinese purchase of crude oil from U.S. strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources. The move comes as China, the world’s No.2 oil consumer, steps up imports from the Americas to diversify supply …

By Grant Smith and Moming Zhou for Bloomberg – West Texas Intermediate oil fell for the fourth time in five days as OPEC said it expects weaker demand for its crude and U.S. output climbed to the highest in records dating to January 1983. Demand for oil from the Organization …