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Explainer: How will China's latest oil probe affect the world's biggest crude importer?


Explainer: How will China s latest oil probe affect the world s biggest crude importer?
Reuters
1 hr ago
By Chen Aizhu
© Reuters/Damir Sagolj
A logo of Sinochem is seen outside an office building of Sinochem in Beijing
By Chen Aizhu
SINGAPORE (Reuters) - This year China s government has been gradually ramping up scrutiny of its sprawling oil industry, reinforcing its authority with new taxes on refined products while investigating crude imports by state energy giants and independent refiners.
© Reuters/TINGSHU WANG
China National Offshore Oil Corp (CNOOC) headquarters in Beijing
Last Tuesday, the country s top economic planning agency gave five state-owned companies just two days to report on their historic use of imported oil, part of a broader effort by the world s largest oil importer to control inbound shipments as domestic supplies swell. ....

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Demand Recovery Indicators Prove No Match For Covid Fears As Oil Prices Drop 2%


Demand Recovery Indicators Prove No Match For Covid Fears As Oil Prices Drop 2%
by Ship & Bunker News Team
Wednesday April 21, 2021
Continued worry that global oil demand will be impacted by rising Covid infections in
India and some parts of
Asia once again caused crude prices to drop on Wednesday, this time by
2 percent - even though the demand recovery that began in earnest upon the rollout of the vaccines continued.
Prices were also affected by data from the
American Petroleum Institute showing
436,000 barrels in the week ended April 16, according to two market sources.
Brent declined
$1.28, or
Bill O’Grady, Confluence Investment Management ....

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