CHINA OIL DEMAND
India to drive global oil demand growth till 2035: IEA Report
India is predicted to lead global oil demand growth until 2035, adding nearly 2 million barrels per day. China’s oil demand for road transport is expected to decline due to electric vehicles. This shift may cause challenges for oil-producing nations, potentially leading to oversupply. The transport sector is also transforming, with declining oil demand for passenger cars projected by 2030.
Oil prices edge higher on hopes for more China stimulus
Oil prices rose slightly in thin holiday trading, supported by China's plans for increased fiscal stimulus and expected declines in U.S. crude inventories. China's measures include boosting pensions and medical insurance subsidies, reflecting hopes for expanding demand amid economic recovery efforts. Additionally, U.S. inventory data and Libya's crude production also influenced the market.
Oil prices rise in thin pre-holiday trade
Oil prices rose on Tuesday, reversing the prior session's losses, buoyed by a slightly positive market outlook for the short term, despite thin trade ahead of the Christmas holiday.
Oil prices stable on Monday as data offsets surplus concerns
Oil prices stabilised on Monday after losses last week as lower-than-expected U.S. inflation data offset investors' concerns about a supply surplus next year.
Oil prices firm on hopes of US policy support for economic growth
Oil prices saw a slight uptick following positive U.S. inflation data, sparking hopes of relaxed monetary policies and boosted demand. Brent crude edged up to $73.20 a barrel, while WTI reached $69.77. This rebound followed a previous dip due to global economic concerns. Meanwhile, the Druzhba pipeline, supplying oil to parts of Europe, resumed operations after a brief technical disruption.
Oil steady as markets weigh Fed rate cut expectations, Chinese demand
Oil prices saw minimal change on Friday as markets assessed Chinese demand and interest rate cut expectations following cooler U.S. inflation data. Brent crude futures and WTI futures both experienced slight increases, yet ended the week down. A weaker dollar and potential rate cuts could boost demand, while concerns linger over China's peaking oil consumption and OPEC+'s demand outlook revisions.
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Where will Trump and China drive commodities in 2025?: Russell
Donald Trump's return to the presidency and China's economic struggles create uncertainty in 2025 commodity markets. Trump's tariff threats could disrupt global trade, while China's response, including potential supply chain disruptions and currency devaluation, adds to the complexity. Traders are expected to adopt a cautious approach, focusing on actual policies rather than rhetoric.
Oil eases from highest in weeks, investors eye Fed rate cuts
Oil futures dipped slightly as investors anticipated the Federal Reserve's meeting and potential rate cuts. Supply disruption concerns, fueled by possible U.S. sanctions against Russia and Iran, limited the decline. New EU sanctions on Russian oil and tighter potential sanctions on Iran boosted prices.
Oil little changed as demand weakness offsets sanctions-driven supply risks
Oil prices remained relatively stable despite conflicting market forces. Weak demand forecasts and rising U.S. fuel inventories tempered gains from new EU sanctions on Russia. OPEC lowered its demand growth outlook, while China signaled potential economic stimulus. Market watchers await U.S. interest rate decisions next week.
Oil prices edge up on demand hopes from China's 'looser' monetary policy
Oil prices saw a modest rise Wednesday morning, fueled by anticipation of increased Chinese demand following Beijing's announcement of looser monetary policy. This comes as Chinese crude imports increased in November for the first time in seven months. However, U.S. crude and fuel stocks saw increases last week, potentially offsetting the positive impact of China's policy shift.
Oil prices mixed as rising Mideast tensions offset demand concerns
Oil prices experienced mixed movements as weak Chinese demand clashed with Middle East tensions following the Syrian rebels' overthrow of President Assad. Brent crude futures dipped slightly, while US WTI crude futures saw a marginal increase. Concerns over a supply surplus loomed despite OPEC+'s decision to extend production cuts, with Saudi Aramco reducing prices for Asian buyers.
Oil prices fall on supply glut fears despite OPEC+ output cut extension
Oil prices dipped over 1% on Friday, solidifying weekly losses amid projections of a 2024 supply surplus due to weak demand. This occurred despite OPEC+ delaying output increases and extending production cuts to 2026. Rising U.S. rig counts and concerns about China's demand contributed to the decline, with Brent crude settling at $71.12 and WTI at $67.20.
Oil prices dip as extended OPEC+ supply cuts highlight weak demand
Oil prices dipped in early Asian trading Friday as OPEC+ delayed planned supply increases and extended output cuts to the end of 2026. Concerns over weak global demand, particularly in China, prompted the move. While the extensions reduce the projected surplus, the market reaction remained subdued due to persistent demand worries.
Oil rises on fears about Lebanon, further OPEC+ supply cuts
Oil prices increased by over 2% as Israel threatened to attack Lebanon if the truce with Hezbollah collapses. Investors are also anticipating OPEC+ to extend supply cuts. Brent crude rose by 2.5% and U.S. West Texas Intermediate by 2.7%. Rising oil prices are supported by the likely extension of OPEC+ supply cuts amidst Middle East tensions.
Oil steady, traders hopeful on China demand but worried about Fed
Oil prices remained almost unchanged on Monday, balanced by hopes of higher demand from increased factory output in China and concerns over the U.S. Federal Reserve potentially maintaining current interest rates. The escalating tensions in the Middle East and upcoming OPEC+ policies also influenced market movements.
Oil inches up on upbeat China data, shaky Israel-Lebanon ceasefire
Oil prices rose as China's factory activity expanded and Middle East tensions escalated due to Israel attacking Lebanon despite a ceasefire. Brent crude futures increased while U.S. West Texas Intermediate crude also went up. OPEC+ might delay its output hike due to Trump's policies and China's weak economic outlook. The situation remains tense and uncertain.
Oil edges lower after jump in US gasoline stocks, OPEC+ supply decision in focus
Oil prices dipped in Asian trade Thursday, following a surprising surge in U.S. gasoline stocks, raising demand concerns. OPEC+ is reportedly considering delaying a planned output increase, while a ceasefire between Israel and Hezbollah eased supply disruption fears. Analysts suggest oil prices are currently undervalued despite slowing demand growth.
Oil prices steady amid focus on Israel-Hezbollah ceasefire, OPEC+ policy
Oil prices held steady following a ceasefire agreement between Israel and Hezbollah. OPEC+ considered delaying planned oil output increases. US crude stocks declined, while fuel inventories rose. A potential 25% tariff on Mexican and Canadian imports, including crude oil, was announced by then US President-elect Donald Trump. These factors influenced market dynamics.
Oil holds at 2-week high as Russia, Iran tensions support prices
Oil prices reached a two-week high following a 6% surge last week. Geopolitical tensions, including Russia's missile attack on Ukraine and Iran's nuclear activities, fueled concerns about potential supply disruptions. The possibility of renewed sanctions against Iran and increased oil demand from China and India also contributed to the price increase.
Oil prices edge higher after Russia-Ukraine tensions escalate
Oil prices saw a slight increase on Monday following intensified fighting between Russia and Ukraine. However, concerns about China's fuel demand and a predicted global oil surplus tempered market optimism. The price uptick comes despite reports of decreased refinery activity in Russia and a drop in U.S. oil rig operation.
Oil settles down 2% on weaker Chinese demand, uncertainty over Fed rate cut
Oil prices dropped over 2% on Friday, driven by concerns about weakening demand from China and the potential for slower interest rate cuts by the U.S. Federal Reserve. China's factory output slowed, and its demand for oil decreased, while U.S. economic data was stronger than anticipated, potentially influencing the Fed's decision on rate cuts.
Oil dips on oversupply concerns, heads for weekly loss
Brent crude futures were down 30 cents, or 0.41 Percent , at $72.26 a barrel by 0105 GMT. U.S. West Texas Intermediate crude futures were down 25 cents, or 0.36 Percent , at $68.45.
Oil prices edge down, forecasts for higher oil output, weak demand growth weigh
Oil prices edged lower. Global production is expected to rise. Demand growth forecasts are weak. The US dollar strengthened. OPEC lowered its oil demand growth forecast. The EIA raised its global oil output forecast. Traders await further market data.
Oil trims losses on tight near-term supply
Oil prices increased slightly. This was due to limited supply. However, prices remained near their lowest point in two weeks. OPEC reduced its forecasts for global oil demand growth. The organization cited weakness in China as a key factor. OPEC now projects demand to grow by 1.82 million barrels per day in 2024.
Oil slips as US storm threat eases, China stimulus disappoints
Oil prices dropped due to easing supply concerns and a disappointing stimulus plan from China. Investors had hoped for increased fuel demand from China. The stimulus package fell short of expectations, impacting oil consumption. U.S. storm concerns eased, further contributing to the price drop. Despite this, U.S. refiners continue to operate at high capacity.
Weakness continues in crude oil prices. Key factors to watch out for
Since mid-2022, oil has traded within a narrow range of $65 to $97 per barrel, primarily due to concerns of supply surpassing demand. In April 2023, OPEC+ responded by announcing production cuts to curb excess supply and stabilize prices, with further extensions to these cuts continuing since then.
Oil prices trim Middle East war risk-gains, China demand remains a worry
Oil prices fell on Tuesday as demand in China slowed and the U.S. pushed for a ceasefire in the Middle East. Brent and WTI crude futures saw slight declines. Market dynamics are influenced by China's economic measures and ongoing geopolitical tensions in the Middle East.
Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook
Oil futures dropped over 7% this week amid concerns about China’s slowing economic growth and mixed Middle East outlook. Brent crude fell to $73.06 per barrel and U.S. WTI settled at $69.22. Increased electric vehicle sales in China and geopolitical tensions also impacted prices.
Oil edges up, but on track for biggest weekly loss in over a month
Crude oil futures edged higher due to a surprise drop in U.S. inventories and Middle East tensions but are on track for their biggest weekly loss in over a month. Concerns over increased supply and lower future demand forecasts have driven prices down, despite geopolitical risks remaining high.
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