Ann: Operational Update, page-33

First 33 Last

Share
Profile

Follow
buc

7,920 Posts.

11

02/12/14

16:47

Post #: 14394809
Share

Originally posted by buc ↑

China emerging on top in OPEC price war as it stockpiles crude oil

Bloomberg News | December 1, 2014

China boosted imports by 8.3%, or 460,000 barrels a day, in the first nine months of this year, the fastest pace since 2010, customs data show.

The nation’s efforts to boost reserves may increase its imports by as much as 700,000 barrels a day in 2015, according to London-based Energy Aspects Ltd. That’s more than half the global glut forecast by Citigroup Inc. after the Organization of Petroleum Exporting Countries refrained from cutting output at its meeting last week. Brent crude has slumped 41% from its peak in June.

The world’s second-biggest economy consumed the largest volume of oil on record in October, according to data compiled by Bloomberg.

China National United Oil Co. in October bought a record 23.5 million barrels of Middle East crude on a Singapore trading platform. The unit of the nation’s biggest energy company may be helping build stockpiles for commercial or strategic purposes, according to Victor Shum, a Singapore-based vice president at IHS Inc., an industry consultant.

http://business.financialpost.com/2...-crude-oil-to-boost-reserves/?__lsa=e6dc-a478

Expand

How much longer will Mr Market ignore these figures?

"The world’s second-biggest economy consumed the largest volume of oil on record in October, according to data compiled by Bloomberg."

"China National United Oil Co. in October bought a record 23.5 million barrels of Middle East crude on a Singapore trading platform"

Last edited by buc: 02/12/14

SSN Price at posting: 1.4¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

RCE

Recce's R327 found effective against E.coli during clinical trial

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Microcap Wrap: 5 explorers with news out today