Oil Dips In Lackluster Trade
Oil prices traded slightly lower in European trade on Tuesday as the Israel defense forces geared up for a critical confrontation in Rafah in the southern Gaza Strip and U.
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Oil prices traded slightly lower in European trade on Tuesday as the Israel defense forces geared up for a critical confrontation in Rafah in the southern Gaza Strip and U.
Asia's imports of crude oil saw robust growth in the new year, reaching an eight-month high in January as top buyers China and India snapped up cargoes. The world's top-importing region... -February 01, 2024 at 12:09 am EST - MarketScreener
Asia's imports of crude oil saw robust growth in January, reaching an eight-month high of 28.57 million barrels per day (bpd), led by top buyers China and India. China imported 11.31 million bpd, slightly below December's figure but well above the same month in 2023. China's imports from Russia surpassed those from Saudi Arabia, although Saudi Arabia increased its exports to regain market share in China. India, Asia's second-biggest importer, is on track for record imports in January, with arrivals of 5.33 million bpd.
The shift in Chinese buying patterns marks a decline in imports from Saudi Arabia towards Russia
Asian refiners expected hefty cuts in Saudi Aramco’s formula prices, however the ultimate price-slashing done by the Saudi national oil company might have surprised even the most ambitious among all buyers