China s total coal imports have soared this year, with customs data released on Aug. 8 showing July imports at 39.26 million metric tons, level with June s 39.87 million but up a massive 66.9 per cent from the same month last year.
The Saudi move, which Energy Minister Prince Abdulaziz bin Salman called a "Saudi lollipop," came on to top of earlier voluntary cuts that Riyadh and several other members of OPEC+ had announced, and added to reductions made under a late 2022 OPEC+ agreement. OPEC s output is still undershooting the targeted amount by almost 1 million bpd partly because Nigeria and Angola lack the capacity to pump as much as their agreed level.
India's Oil Imports from Russia: Daily volumes climbed to 2.2 million barrels a day in June, rising for a 10th month, according to Viktor Katona, the head of crude analysis at Kpler
Kpler data shows Iran oil exports hit highest level since sanctions started China increase oil import quota 20% from a year ago Gold ETFs reduced for a 13
Oil prices drop by almost 4% despite a significant fall in U.S. crude inventories. Economic concerns and the fear of recession continue to impact the energy industry, with potential interest rate hikes by central banks contributing to the slowdown of energy demand.