Daily Energy Report

Daily Energy Report

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Daily Energy Report
Daily Energy Report
Daily Energy Report

Daily Energy Report

China stockpiles crude, US LNG exports to Europe declining, Turkey makes LNG deal with Total, Italian firm-Saudis make offshore oil deal, Chevron CEO attacks Biden, and more.

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A F Alhajji
Sep 18, 2024
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Chart of the Day: China is Back at it Again, Stockpiling Crude

Summary

Despite weak economic growth, China’s oil imports skyrocketed recently as shown in Figure (1) above. Most of those increases came from Iraq and Saudi Arabia. The recent decline in Russia’s share in China is related to the decline in Russia’s exports and not to competition between Russia and other oil producers. 

EOA’s Main Takeaways

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