2020-08-26 13:00:00
U.S. OIL TO CHINA UP
PLATTS - 26 Aug 2020 - China's July crude imports from the US surged 524.4% from June to a fresh high of 3.67 million mt ,or 866,793 b/d, propelling the producer to become China's fifth largest supplier in the month, data from the General Administration of Customs showed Aug. 26.
The US' crude oil imports to China were last highest in January 2018 when inflows hit 2.01 million mt, or 474,450 b/d. The flow then slowed and dried up for a few months amid the China-US trade tensions.
On the contrary, crude shipments from leading OPEC producer Saudi Arabia slumped 39.7% to 5.36 million mt, or 1.27 million b/d, in July from the record high of 2.17 million b/d in June amid production cuts.
As a result, the kingpin fell behind Russia and Iraq to become the third largest crude supplier to China in July.
Meanwhile, Iranian crude inflow resumed in July with 498,026 mt, or 117,759 b/d, shipped. There were no Iranian crude imports in June for the first time since January 2007, when S&P Global Platts first began tracking the GAC data.
Over January-July, Russia delivered 51.34 million mt, or 1.77 million b/d, of crude to China, jumping 18.4% year on year to become the top supplier during the period.
Russian inflows helped imports from OPEC+ suppliers to rise 7.4% year on year to 8.69 million b/d in the first seven months of the year, but the group's market share fell to 78.9% from 81.9% a year ago.
China's crude imports jumped 11.5% year on year in January-July to 11.01 million b/d as it took full advantage of low crude prices in the first half of the year.
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Earlier:
2020, August, 24, 12:15:00
U.S. RIGS UP 10 TO 254
U.S. Rig Count is up 10 from last week at 254, Canada Rig Count is up 2 rigs from last week to 56
2020, August, 20, 14:25:00
CHINA'S OIL & GAS UP
On an average daily basis, the CNOOC oil and gas production volume was up 5.5% from 1.34 million boe/d in the same period of last year.
2020, August, 18, 12:30:00
U.S. PRODUCTION: OIL (-19) TBD, GAS (-421) MCFD
Crude oil production from the major US onshore regions is forecast to decrease 19,000 b/d month-over-month in August from 7,577 to 7,558 thousand barrels/day, gas production to decrease 421 million cubic feet/day from 79,684 to 79,263 million cubic feet/day .
2020, August, 14, 11:55:00
U.S. LNG EXPORTS DOWN
U.S. exports of LNG fell to an average of 3.1 Bcf/d in July 2020.
2020, August, 12, 14:15:00
U.S. LPG FOR ASIA UP
LPG demand from China and Indian is showing initial signs of recovery, while Indonesia is seeking term cargoes.
2020, August, 12, 14:00:00
U.S. FRACKING IS IMPORTANT
A ban on fracking may sound noble in some circles, but far from being a practical and permanent solution, it may pose significant impediments to energy generation in the United States and the national economy.
2020, August, 5, 12:10:00
U.S. OIL PRODUCTION DECREASING
Production of crude oil decreased in the United States in May 2020 by 1.99 million barrels per day (b/d)
