Daily Energy Report
China oil imports, US crude inventories, Trump win worries climate activists, Germany’s economic/climate conundrum, solar capacity grows, Italy pushes back against combustion engine ban, and more.
Due to change in travel schedule, there will be no report tomorrow, Friday.
Chart of the Day: China’s Oil Imports
Reuters: China’s Crude Oil Imports Fall for Sixth Straight Month on Refinery Closure
Summary
China’s crude oil imports dropped 9% in October to 10.53 mb/d, marking a sixth consecutive monthly decline. This decrease was partly due to the closure of a 90,000-bpd unit at PetroChina’s Dalian refinery, which is set to close by 2025, and weak demand from smaller refineries in Shandong. Year-to-date imports are down 3.4%. Natural gas imports rose 20% year-on-year, and refined oil exports fell 23% in October, with a 7.2% decline for the year so far.
Figure (1) below shows trends in China’s crude oil imports:
