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Asian crude importers see the early return of Iranian supply amid the Russia-Ukraine conflict as the only way to cool soaring oil prices that would prevent demand destruction and ensure the fragile regional economic recovery from the pandemic remains intact. The market, however, is unduly worried about one step forward and two steps backward in . ....
Iran offering fewer crude cargoes to Chinese traders as it prepares for lifting of sanctions: sources 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.
Singapore China s surprise move to slap a consumption tax on imports of light cycle oil and mixed aromatics will force refiners to boost output of these products at home, which could lead them to ship in incremental crude oil cargoes as well as divert some feedstock from other oil products. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Analysts said a bigger share of those incremental barrels will be shipped in by the state-run refiners, while independent refiners would account for relatively smaller volumes. Beijing said in the week ended May 14 it will impose a consumption tax on the two imported materials from June 12, making gasoil barrels blended from imported LCO and gasoline barrels blended from mixed aromatics less competitive compared with volumes produced by domestic refiners. ....
China's surprise consumption tax move creates room for additional crude inflows 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.