Congo Djeno News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Congo djeno. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Congo Djeno Today - Breaking & Trending Today
FEATURE: China replaces African loans with energy investments amid faltering economy hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Brent plunge fails to displace Russian crude for Asian buyers | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
West Africa s oil exports due for loading next month have struggled to sell, due to weak demand from the region’s regular customers in Asia and Europe and tougher competition from rival suppliers. (Bloomberg) West Africa’s oil exports due for loading next month have struggled to sell, due to weak demand from the region’s regular customers in Asia and Europe and tougher competition from rival suppliers. As much as half of Nigeria’s planned crude loadings for May haven’t yet found buyers, according to oil traders specializing in West African grades. The nation West Africa’s biggest oil producer is due to export around 1.68 million barrels of crude a day in May, the largest rate in three months, according to data compiled by Bloomberg. ....
WAF crude exporters in quandary amid fading Chinese demand China, the world’s largest crude importer, has started to reduce its reliance on West African oil, smitten by the lure of cheaper Iranian oil amid a backdrop of swollen inventories and higher flat prices. This is a huge setback for Angola and Republic of Congo, which are heavily reliant on Chinese demand, for its foreign oil revenues, trading sources said this week. “It is almost as if China took a look at $70/b oil and the state of COVID-19 in the West and said we are not paying any longer at these elevated levels with a subtext that Iran is more than willing to oblige with lower prices,” said a Europe-based crude oil trader. “I don’t blame the Iranians…after all selling at $60/b or so is still very attractive for them no doubt and for China it is a win (economically and also a poke in the eye to the US),” he added. ....
Physical crude markets are treading carefully after the OPEC+ alliance decided to keep supply tight in April, even as crude futures rallied sharply. Despite a much tighter picture that has pushed oil prices to a 14-month high, oil demand is still short of reaching pre-pandemic levels of 100 million b/d. But trading sources and analysts . ....