Tag: oil imports

June 24, 2020

Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer of […]

May 8, 2020

It is said that Asia’s voracious appetite for crude oil in general, and China’s in particular, fuels much of the global demand that’s been so badly stunted by the spread of the global coronavirus or Covid-19 pandemic. However, there are […]

February 12, 2020

The goal of U.S. “Energy Independence” continues to be pushed across the spectrum. It rests on lowering oil imports, seen as a bugaboo for us since the crisis of the 1970s. And on the surface, this makes sense. In the […]

February 5, 2020

Oil futures rose for a second day on Thursday amid investor optimism over unconfirmed reports of possible advances in combating the coronavirus outbreak in China as a sign fuel demand may rebound in the world’s biggest oil importer. Brent futures […]

November 18, 2019

Based on preliminary data and model estimates, EIA (US Energy Information Agency) estimates that the United States exported 140,000 b/d more total crude oil and petroleum products in September than it imported; total exports exceeded imports by 550,000 b/d in […]

June 28, 2019

A flurry of oil tanker attacks in the world’s busiest transit lane for seaborne oil shipments has triggered grave concerns about maritime security, with President Donald Trump suggesting the U.S. could stop providing protection to other ships. Six oil tankers […]

April 29, 2019

Waivers that allowed certain countries to continue importing Iranian oil without penalty will end next month, leading to a game of chicken between the Trump administration and some of the world’s largest economies. According to the White House announcement on […]

April 26, 2019

Mexico is the United States’ top trade partner. At least for the moment. This, to my knowledge, is a first. Mexico traditionally ranks third among U.S. trade partners, behind China and Canada. This realignment shines a slightly brighter light on […]

April 23, 2019

China and India are both unlikely to completely cut off Iranian crude imports, energy analysts have said, despite the imminent threat of U.S. sanctions. President Donald Trump’s administration announced Monday that buyers of Iranian oil must stop purchases by May […]

August 30, 2018

Earlier this month, the Trump Administration announced that it would replace fuel efficiency standards enacted by the Obama Administration in order to make cars safer and more affordable. The new proposal unveiled by the Environmental Protection Agency and the Department […]

July 6, 2018

In January 1977, the awful day arrived. U.S. petroleum imports passed the magical 50% mark. Yet somehow the world failed to end. Now, with U.S. net imports comprising only 20% of our usage (including NGLs), the supposed energy dominance of […]

August 5, 2016

Oil prices fell by 1 percent on Friday as a crude and refined product glut weighed on markets and investors eyed a possible stutter in China’s imports, ending a two-day short-covering rally. U.S. West Texas Intermediate (WTI) crude crude futures […]

April 12, 2016

The past decade has seen a major shift in the U.S. crude oil market. As a result of the surge in domestic production that was largely enabled by hydraulic fracturing — a practice Democratic presidential candidate Bernie Sanders vows to […]