Oil in Asia Global oil demand and consumption i
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Posted On: 05/03/2017 12:00:37 PM
Oil in Asia
Global oil demand and consumption is increasing all the time. But that’s hardly going to make a catchy story.
So instead, many people are focusing solely on Asia, and China in particular.
That’s fair, given that it’s the world’s largest energy market and has been the world’s top crude importer since U.S. shale allowed the country to cut back. Today, it’s all about how the energy market in China is developing and who’s going to benefit most.
Saudi Arabia and Russia are both hot on the trail, offering Chinese buyers new deals in hopes of catching the most Asian market share.
And they’re not the only ones...
Iran, still rushing to reclaim exports it lost when sanctions went up against its business years ago, is expected to reach new records this year. Estimates say China could import around 4 million barrels more per quarter as compared to last year, meaning Iran is stealing market share from right under Saudi Arabia’s nose.
Global oil demand and consumption is increasing all the time. But that’s hardly going to make a catchy story.
So instead, many people are focusing solely on Asia, and China in particular.
That’s fair, given that it’s the world’s largest energy market and has been the world’s top crude importer since U.S. shale allowed the country to cut back. Today, it’s all about how the energy market in China is developing and who’s going to benefit most.
Saudi Arabia and Russia are both hot on the trail, offering Chinese buyers new deals in hopes of catching the most Asian market share.
And they’re not the only ones...
Iran, still rushing to reclaim exports it lost when sanctions went up against its business years ago, is expected to reach new records this year. Estimates say China could import around 4 million barrels more per quarter as compared to last year, meaning Iran is stealing market share from right under Saudi Arabia’s nose.
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