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Tag: Oil Supply


Energy, Industry Focus Areas, Logistics, Process

Surging Chinese Oil Demand Pushes Shipping Costs Sharply Higher

March 17, 2023

Via: The Wall Street Journal

China is on an oil-supertanker hiring spree, a sign energy demand has sped up after the world’s second-largest economy limped out of its Covid-19 lockdowns. Traders carry crude to China, the world’s biggest oil importer, in Eiffel Tower-size tankers called […]


Energy, Industry Focus Areas

Oil Demand Nears Pre-Pandemic Levels, Saudi Aramco Says

January 24, 2022

Via: Transport Topics

Demand for oil is nearing pre-COVID levels and producers globally are investing too little in supply, Saudi Aramco said. “We are getting very close to pre-pandemic levels,” CEO Amin Nasser said Jan. 24 in Dhahran, where the world’s biggest oil […]


Energy, Industry Focus Areas

OPEC+ Can Proceed With Reviving Supply, Key Members Say

September 21, 2021

Via: Transport Topics

OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. “The plan is working, we’re gradually increasing and the market is absorbing it,” United […]


Energy, Industry Focus Areas

Chevron CEO Warns of High Energy Prices, Supply Crunches

September 16, 2021

Via: Transport Topics

The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron Corp.’s top executive. “There are things that are interfering with market signals right now […]


Energy, Industry Focus Areas

Oil Climbs With US Demand Bump Driving Global Rebound Optimism

April 28, 2021

Via: Transport Topics

Oil advanced to the highest intraday level in more than a month as a combination of declining U.S. petroleum product supplies and signs of stronger demand buttressed expectations for a revival in global consumption. Futures jumped as much as 2.2% […]


Energy, Industry Focus Areas, Logistics, Process

Oil Tanker Owners Pay to Move Crude in Wake of Supply Cuts

January 20, 2021

Via: Transport Topics

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route. Supertankers delivering 2 million-barrel shipments of the kingdom’s oil to China […]


Energy, Industry Focus Areas

Oil’s Brief Rally Fades With Supply Risks Countering Stimulus

December 28, 2020

Via: Transport Topics

A brief rally in crude oil deflated Dec. 28 as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+. Futures in New York were little changed in […]