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Deliveries of oil and condensate from the US to China for the period from January to April 2018 doubled year-on-year to 330,000 barrels per day due to increased purchases. According to Bloomberg, during this period, the price of WTI oil rose to an average of 63 dollars 77 cents per barrel from 51 dollars 63 cents a barrel. This led to an increase in the price of the American oil purchased by the PRC two times or by about $1 billion 200 million. Bloomberg sources note that in order to help reduce the foreign trade deficit of the United States with China, China plans to buy US oil worth $25 billion a year.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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