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China has lost the status of the largest buyer of American oil, which had in the first half, The Wall Street Journal writes. In the third quarter, oil exports from the United States to China plummeted amid a trade war between the two countries. Data on the movement of tankers, as well as the results of a survey of traders showed a complete lack of supplies of American oil in August and the purchase of only 31,000 barrels per day in September. China in these months switched to deliveries from Russia and Saudi Arabia. Kpler reported that Saudi Arabia increased oil exports to China by 258 thousand barrels, Russia – by 200 thousand barrels per day. However, according to the EIA, the USA in September increased exports to 2,600,000 barrels per day from 500,000 barrels per day in December 2015 due to new markets such as India, Georgia, Denmark and others.
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 ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
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 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
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 ...
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