Oil prices likely to surge at Sunday?s opening after a ?different? type of Saudi Arabia disruption

[Emily]

Filled up the car's tank just in case.

https://www.freightwaves.com/news/o...r-a-different-type-of-saudi-arabia-disruption

 

[sharon sanders]

China is the world's second-largest consumer of oil and moved from second-largest net importer of oil to the largest in 2014.

https://www.eia.gov/beta/international/country.php?iso=CHN

 

[sharon sanders]

China is the world's second-largest consumer of oil and moved from second-largest net importer of oil to the largest in 2014.

https://www.eia.gov/beta/internation...ry.php?iso=CHN

Begging for oil?


[FONT=&quot]12:05, 16-Sep-2019[/FONT]

[FONT=&quot]Chinese Premier Li Keqiang departed for Russia on Monday for an official three-day visit, at the invitation of Russian Prime Minister Dmitry Medvedev, reported Xinhua news agency.[/FONT]

https://news.cgtn.com/news/2019-09-1...PpC/index.html

 

[sharon sanders]

JULY 24, 2019 [h=1]Saudi Arabia has been exporting more crude oil to China, less to the United States[/h]
Four Asia-Pacific countries that publish crude oil imports by country of origin?China, Japan, South Korea, and Taiwan?collectively imported an average of 3.5 million b/d of crude oil from Saudi Arabia in 2018. China?s, Japan?s, and Taiwan?s 2019 year-to-date crude oil imports from Saudi Arabia are larger than their 2018 annual averages, but South Korea?s have declined slightly, based on data through May 2019.
In contrast, U.S. crude oil imports from Saudi Arabia have declined year-to-date through April 2019 compared with the 2018 average by more than 0.2 million b/d, averaging 0.6 million b/d for the first four months of 2019. Weekly estimates through July 12 show continued declines, indicating that U.S. crude oil imports from Saudi Arabia averaged about 0.5 million b/d in May and in June.


https://www.eia.gov/todayinenergy/detail.php?id=40172

 

[Emily]

Still too much oil!!

https://finance.yahoo.com/news/china-stockpiling-slowdown-could-cripple-190000821.html

[h=1]China?s Stockpiling Slowdown Could Cripple Oil Demand[/h]


Tsvetana Paraskova

Oilprice.com September 23, 2019 Apart from the slowdown in global oil demand resulting from slowing economies and the U.S.-China trade war, another threat to oil demand may be lurking for oil markets over the next few months?China, the world?s top crude oil importer?could slow down strategic and commercial inventories stockpiling.
China?which singled-handedly has been responsible for more than two thirds of global oil demand growth this year?could start to scale back oil purchases for reserves?strategic or commercial?as it could be nearing its storage capacity, Reuters columnist Clyde Russell argues in a column on Monday...