By hellenicshippingnews There is no doubt that the Chinese oil market has become more competitive this year and based on the Chinese government's statistics, Saudi Arabia holds the largest share in the Chinese market, however the amount of oil imports from Saudi Arabia decreased this year. Chinese customs revealed that all Chinese revenues had increased […]

By hellenicshippingnews Oil traded near the lowest close in almost three weeks in New York after U.S. government data showed crude stockpiles at the highest seasonal level in more than 20 years. Futures were little changed after falling 6.2 percent the previous three sessions. U.S. inventories increased by 2.28 million barrels last week for a […]

By hellenicshippingnews OPEC's oil output is likely in August to reach its highest in recent history, a Reuters survey found on Wednesday, as extra barrels from Saudi Arabia and other Gulf members make up for losses in Nigeria and Libya. Production in top OPEC exporter Saudi Arabia has likely reached a fresh record, sources in […]

U.S. crude oil and distillate stocks rose last week though the size of the drawdown in gasoline inventories was less than expected according to Wednesdays release of Energy Information Administrati Read full story › Source:: Oil Voice