China Slashes Saudi Crude Liftings After Price Hike

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
China,Saudi,Arabia,Flags,Countries,Conflict,Joining,Agreement
esfera/Shutterstock

Market sources say Chinese term lifters of Saudi crude slashed their requested volumes for August loadings by up to 10 million barrels in response to official Saudi prices that they considered expensive.

Topics:
Oil Demand, Crude Oil, Refining
Wanda Ad #2 (article footer)
#
Western sanctions have held up development of Harbour Energy's Tuna gas project, in which the Russian company holds a 50% stake.
Wed, Sep 20, 2023
Powell says the higher oil price is a “significant thing” but that the central bank tends to “look through” energy moves if they reflect short-term volatility.
Wed, Sep 20, 2023