Russian giant Rosneft’s recent deals in Asia suggest it is potentially shifting the balance of its crude oil sales in the region — one of its most important export markets — from a spot tender basis to long term contracts and significantly reducing the amount of Russian crude that enters the spot market in Asia.
Posts Tagged ‘China’
By Daniel Colover | July 28, 2015 12:01 AM Comments (0)
By Elizabeth Bassett | July 9, 2015 10:35 AM Comments (4)
The beginning of July is the beginning of the second half of the year, and just over the weekend I was looking at a calendar and marveling that we’d arrived here already. We started this feature a little over a year ago, but especially within the past 12 months, the oil industry seems like it’s been taking us all on a roller-coaster ride. On July 1 of last year, for example, Dated Brent was assessed by Platts at $110.46/b, but on July 1 of 2015 it was assessed at $61.67/b. Today, we’re attempting to pull out some highlights from the most recent part of that wild ride.
By Sebastian Lewis | July 9, 2015 12:01 AM Comments (0)
It’s rare that commodity markets are as strange as the topsy-turvy world encountered by Alice in Lewis Carroll’s novel Through the Looking Glass. But in the last few days prices in China have been behaving very strangely indeed. In Carroll’s book a Walrus famously declares to his companion the Carpenter that the time has come for them to “talk of many things: Of shoes, and ships, and sealing-wax, of cabbages and kings, and why the sea is boiling hot, and whether pigs have wings.”
It’s not the shoes and sealing-wax that people have been talking about recently in China, but rather the price of cabbages — and steel.
By Vandana Hari | June 19, 2015 12:01 AM Comments (3)
The world seems to be using more oil now that it is 40% cheaper than a year ago and especially so in countries enjoying some economic growth momentum.
Depending on who you are listening to, the US, China, India and the Middle East are cited as the main drivers of demand growth in 2015, with consumption in Japan and the Eurozone improving from a low base last year, in line with their economic recovery.
By Tom Balcerek | June 17, 2015 12:01 AM Comments (0)
The Western world’s steelmakers have joined together to effectively tell China to back off, urging their home countries to take action against the world’s largest steelmaker.
In a joint statement by 10 mill trade associations, steelmakers in the Americas and Europe took China to task for destabilizing the global steel market.