Home
[size=36]Bloomberg: Saudi oil targets China at the expense of America[/size]
Economy | 08:01 - 03/08/2019
BAGHDAD -
Saudi oil shipments are increasingly going to China, at the expense of the US share in part, the Bloomberg news agency reported .
The signals from oil tankers last month indicate that Saudi Arabia is sending ever more of its crude oil to China, causing a loss to the United States. Saudi Arabia's exports to China rose to 1.74 million bpd in July, The highest since Bloomberg began tracking cargo data in January 2017. Meanwhile, Saudi shipments to the United States seem to have dropped to 161,000 barrels a day, the lowest for the same period.
The difference illustrates the current state of the impact of the policy sites, where the Organization of Petroleum Exporting Countries (OPEC) - Saudi Arabia is one of the largest producers in the Organization - and a group of allies last month to extend the cut production. The main reason for the restrictions is the rise in production in the United States, which is approaching record levels in the weekly data. US stocks have fallen in recent months as Saudi shipments to the country drop.
At the same time, Saudi Arabia has acquired a large slice of the Chinese market at the expense of Iran, which has crippled US oil exports, the kingdom's regional rival. According to the tracking data, Saudi crude oil flows to markets east of the Suez Canal were around 5.1 million bpd last month, and the number is likely to rise when some ships reach their final destinations. Saudi Arabian Gulf flows seem to have fallen to around 1.1 million bpd in July.
China imported a record amount of crude oil from Saudi Arabia in June, according to the General Administration of Customs. The country has an increasing desire for raw materials, with two projects being run by Hengli Petrochemicals and Zhejiang Petrochemicals Co. this year. The Hengli plant in Dalian reached full capacity in May.
With China grabbing more Saudi crude, flows to India, Japan and South Korea appear to have declined last month. Only three vessels carrying oil from Saudi Arabia to the United States sailed in July - one for each of the eastern, western and Gulf coasts - although more ships may appear in the coming days when the tankers arrive at their final destinations. US-related flows fell to 1.03 million bpd in July 2018.
Of the crude oil-laden vessels in Saudi Arabia in July, the ships' carrying capacity of about 13 million barrels was not disclosed. According to the tracking signals, it is likely that about half of this amount will sail east
Saudi oil shipments are increasingly going to China, at the expense of the US share in part, the Bloomberg news agency reported .
The signals from oil tankers last month indicate that Saudi Arabia is sending ever more of its crude oil to China, causing a loss to the United States. Saudi Arabia's exports to China rose to 1.74 million bpd in July, The highest since Bloomberg began tracking cargo data in January 2017. Meanwhile, Saudi shipments to the United States seem to have dropped to 161,000 barrels a day, the lowest for the same period.
The difference illustrates the current state of the impact of the policy sites, where the Organization of Petroleum Exporting Countries (OPEC) - Saudi Arabia is one of the largest producers in the Organization - and a group of allies last month to extend the cut production. The main reason for the restrictions is the rise in production in the United States, which is approaching record levels in the weekly data. US stocks have fallen in recent months as Saudi shipments to the country drop.
At the same time, Saudi Arabia has acquired a large slice of the Chinese market at the expense of Iran, which has crippled US oil exports, the kingdom's regional rival. According to the tracking data, Saudi crude oil flows to markets east of the Suez Canal were around 5.1 million bpd last month, and the number is likely to rise when some ships reach their final destinations. Saudi Arabian Gulf flows seem to have fallen to around 1.1 million bpd in July.
China imported a record amount of crude oil from Saudi Arabia in June, according to the General Administration of Customs. The country has an increasing desire for raw materials, with two projects being run by Hengli Petrochemicals and Zhejiang Petrochemicals Co. this year. The Hengli plant in Dalian reached full capacity in May.
With China grabbing more Saudi crude, flows to India, Japan and South Korea appear to have declined last month. Only three vessels carrying oil from Saudi Arabia to the United States sailed in July - one for each of the eastern, western and Gulf coasts - although more ships may appear in the coming days when the tankers arrive at their final destinations. US-related flows fell to 1.03 million bpd in July 2018.
Of the crude oil-laden vessels in Saudi Arabia in July, the ships' carrying capacity of about 13 million barrels was not disclosed. According to the tracking signals, it is likely that about half of this amount will sail east
» utube 11/ 28/ 23USD Value-Dinar News Today-Iraqi Dinar Revaluation News
» utube 11/28/23 From Iraq Today 2023 / Iraqi Dinar RV / Iraqi Dinar News Today
» utube 11/27/23 Militia Man & Crew WTO - International Monetary Fund - AYSCUDA
» The American Ambassador: The guide to financial investigation procedures will support Iraq in reduci
» The Iraqi judiciary adopts the “video conferencing” mechanism to record the statements of witnesses
» The Federal Court rejects a lawsuit against Al-Sudani regarding the salaries of Kurdistan employees
» Planning: The Development Road and Al-Faw Port projects will provide a high contribution to state re
» The Ministry of Transport confirms its readiness for the task of managing Iraqi airports
» The Iraqi government issues new decisions
» The Commission comments on the possibility of “exploiting” unreceived voter cards by fraud
» Asala instead of agency.. The Council of Ministers votes on a number of special grades and sends the
» “It does not export all quantities.” Parliament comments on Iraq’s oil exports for the month of Octo
» Dealing with Chinese is a funny game.. Iraq’s expectations for 2024: The dollar is above 190.. How m
» Central Bank: There is no shortage of dinar stocks and the financial situation is good
» Al-Rasheed announces the opening of the platform for travelers wishing to buy dollars
» Sudanese Advisor: Reforming the economy begins with the government banking sector
» Adviser to the Prime Minister: Economic policy in Iraq is moving towards implementing the principle
» Audit Bureau: Completing the audit of the final accounts for the 2016 budget and obliging government
» In cooperation with the World Health Organization, the launch of a project for electronic organizati
» The continuation of “insults to the dollar” will force us to undertake a mass migration. Representat
» Regional Chambers of Commerce: Thursday is the election date, and this is the number of merchants wh
» The Sudanese is between the hammer and the anvil of the Americans and the resistance missiles
» Overthrowing a network that manipulates dollar exchange rates in Baghdad
» Violations and violations in two projects costing them “41” billion dinars in Dhi Qar
» State Forces candidate Ahmed Al-Hassani: Agriculture on the Euphrates River is annihilated, and inve
» State Forces candidate Sarah Al-Khazali: The housing crisis is at the forefront of service problems
» State Forces candidate Hassan Al-Kinani: Mr. Al-Hakim’s contribution was significant in approving th
» Erbil...the opening of the largest iron production factory in Iraq
» Al-Barti identifies the “point of contention” regarding not exporting Kurdistan’s oil to Türkiye
» Al-Fateh: America is misleading about its combat presence in Iraq
» External remittances increased by 94% in the Central Bank of Iraq auction
» The Financial Supervision Authority announces the completion of the audit of the final accounts for
» The Iraqi Stock Exchange closed up by 0.01%
» Iraq loses half of its cultivated areas due to drought
» Baghdad does not recognize.. Revealing the reason for preventing Iraq from entering the “Gaza truce”
» Al-Parti is pressing to implement a “law that ends the Kurdistan employee salaries crisis” and direc
» Costs, agreements, and diversity.. Iraq increases its trade exchange with Iran, and the obstacles ar
» “It does not export all quantities.” Parliament comments on Iraq’s oil exports for the month of Octo
» An invitation to an extraordinary session to choose the Speaker of Parliament
» Prime Minister: Forming a team to follow up on reforms in Rafidain Bank
» The Council of Ministers holds its regular session headed by Al-Sudani
» The Security Committee for Securing the Elections announces the formation of the Cybersecurity Commi
» Oil is heading to end a series of losses amid anticipation of the OPEC+ decision
» Finance funds the Ministry of Education’s account to disburse student and student grants
» Adopting the electronic payment system at gas stations early next year
» Al-Maliki's coalition advises Al-Halbousi to "stay away" from the political process
» Finance launches the second issuance of reconstruction bonds worth one trillion dinars
» Accusations against Al-Halbousi’s party of stealing the revenues of Al-Qaim and Trebil outlets
» The framework expects an increase in the number of competitors for the position of Speaker of Parlia
» Al-Rasheed directs its branches to stop credit activities
» Kurdish leader: The employee salaries crisis includes all governorates of the region
» The Iraqi Central Bank diagnoses the “basic” problem with the crisis of the dollar’s rise
» The Patriotic Council of Kurdistan sets a “condition” for choosing the Speaker of Parliament.. What
» Masrour Barzani: The regional government delegation is holding discussions in Baghdad to resolve the
» Last month... Chinese companies acquired the largest share of Iraq's oil
» American report: Iraq is among the 10 countries most exposed to floods
» Agriculture demands the activation of “food industries” and the production of modern mechanization
» 24 foreigners who intended to destabilize the security of the oil fields in Basra were arrested
» Jassim Al-Falahi: 90 billion dinars have been allocated to confront climate change and address pollu
» The Council of Ministers issues a special decision to import gold and precious metals
» "SOMO": Chinese companies are the most numerous to buy Iraqi oil
» Oil: Total projects will close the file of flared gas in 5 fields
» Electricity delivers sites for the construction of solar power plants
» Planning reveals the goals of the five-year national development plan
» 30% growth in Iranian goods exports to Iraq
» With the document.. Integrity summons the Assistant Secretary of Security and Intelligence, Ali Sabr
» Al-Sudani reviews the latest preparations for holding the elections
» Contracting with an international company to repair government banks
» An invitation to an extraordinary session to choose the Speaker of Parliament
» Iraq presents its demographic urban document to the Arab League
» Parliamentarians: Iraq’s position on Gaza is consistent and ahead of international positions
» Zidane: We are committed to anti-money laundering requirements
» The Ministry of Interior begins automating police stations in Karkh and Rusafa
» Efforts to employ geologists in oil companies
» Iraq raises hot issues at the World Climate Conference sessions
» Al-Alaq: There is no scarcity of dinars and the monetary supply exceeds 100 trillion
» 9 billion dollars in Iraqi oil imports in a month
» Gas export
» Baghdad does not recognize.. Revealing the reason for preventing Iraq from entering the “Gaza truce”
» Baghdad dollar stabilizes high.. Money exchangers sell for more than 158 thousand
» Al-Sudani will present the demands of the regional delegation to the Iraqi Council of Ministers
» Prime Minister, Mr. Muhammad Shiaa Al-Sudani, receives the head of the Victory Alliance, Mr. Haider
» 4 “Sunni” figures.. Learn about the names nominated to assume the position of Speaker of the House o
» The work releases the salary of a full-time employee to more than 311 thousand beneficiaries
» The Prime Minister and the Turkish Ambassador agree on the importance of resuming the export of Kurd
» Fears of the outbreak of a devastating regional conflict: Iraq warns against extending the Gaza truc
» President Barzani meets with the Turkish Ambassador to Iraq
» Al-Sudani reviews the latest preparations for holding the elections
» Petroleum products: Electronic payment at gas stations will not impose additional fees
» Peasants demonstrate in Diwaniyah: The agricultural plan did not include our lands
» The Commission responds to the demands to postpone the Kirkuk elections and confirms the integrity o
» An international survey summarizes the suffering of Iraqi farmers due to drought
» A network manipulating dollar exchange rates was arrested in Baghdad
» Kurdistan gives pharmacies two months to comply with “drug pricing”
» Nechirvan Barzani: Erbil and Baghdad are holding technical discussions to resume Kurdistan oil expor
» Finance announces the launch of the second issuance of reconstruction bonds worth more than one tril
» The coordination framework discusses during its meeting developments in the political situation in I
» Coinciding with the end of the year... a government bank extends an invitation to its branches