We expect Chinese imports to be high in H2 15, potentially averaging 7.5 million barrels per day. This is due to the start-up of 39 mb (million barrels) of commercial storage, five SPR (strategic petroleum reserve) sites and linefill for Kunming refinery-buying for which is ongoing we believe, even though the refinery won't start up till early 2016.

Energy Aspects

Categorized in : Energy

In the current low oil price environment, Russian fuel oil exports are now bringing in almost no net revenue to refineries.

energy

The Iranian deal is unlikely to bring back large volumes of oil yet, given the removal of upstream sanctions is complex and significant investment is needed for raising output.

business

Fears of hard landing in China (are) on the rise again. by Energy Aspects

Fears of hard landing in China (are) on the rise again.

business

Asian distillate markets have started showing fatigue ... with Asian complex refining margins falling sharply to near breakeven levels.

business

Diesel fundamentals are weak, but crude fundamentals are weaker, so the downward move in crude is likely to be greater.

business

China's storage needs are ultimately finite, and unlikely to last in the same scale much beyond 2016.

industrials

Global oil demand continues to surprise to the upside, with April data showing no signs of slowdown despite a pick-up in prices.

energy

We know something will have to give eventually, and we believe it... by Energy Aspects

We know something will have to give eventually, and we believe it is more likely to be spreads.

energy