An S&P Global Platts survey released Wednesday shows that oil output from the Organization of the Petroleum Exporting Countries and its allies (OPEC+) rose by 1.71 million barrels a day to 34.63 million barrels a day in August from a month earlier.
August’s crude oil imports in China jumped 13% from a year earlier, supported by hefty orders placed earlier this year when global oil prices collapsed and as cargoes previously delayed by congestion at arrival ports finally cleared customs.
The fuel cargo of several vessels was seized by the United States Administration last week, alleging that the fuel came from Iran and was going to Venezuela.
In the lead-up to a highly-anticipated review of the trade deal between the two economic powerhouses, the world’s biggest oil importer, China, has ramped up purchases of American crude.
Data from TankerTrackers.com has revealed that Iran is exporting a lot more crude oil than U.S. figures suggest. NBC News reports that, according to the data, Iran is exporting as much as 600,000 barrels daily, using ship-to-ship transfers with transponders turned off to avoid detection, skirting U.S. sanctions.
Data first quoted by Bloomberg showed that Russia exported more LNG to China in June than the United States did, at 396,000 tons versus 340,000 tons.
Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand caused by the coronavirus pandemic.
Libya’s National Oil Corp. declared force majeure on exports again, accusing the United Arab Emirates of being behind a blockade as the chaos continued to engulf the country’s oil industry.
Denmark on Monday gave Nord Stream 2 permission to use pipe-laying vessels with anchors to complete the final stretch of the gas pipeline in Danish waters, removing a key obstacle for the much-delayed project designed to bring more Russian natural gas to Europe.
As its state oil firm continues negotiations to end the blockade that has been stifling exports since January, Libya is set to export even less crude oil in July than it did in June.