China expanded its crude oil stockpiles over the first two months of the year, thanks to higher imports and a ramp-up in domestic production, Reuters’ Clyde Russell reported, adding that the stock buildout strengthened despite higher refining rates in the period. Imports of crude oil to China averaged 11.99 million barrels daily, Russell said, adding…
China on Thursday defended its oil imports from Russia as legitimate and lawful, warning the US that it would take “firm countermeasures” if it imposed unilateral sanctions affecting Beijing’s interests. The US’s approach amounted to unilateral bullying and economic coercion, said Chinese foreign ministry spokesperson Lin Jian.(REUTERS file) The US’s approach amounted to unilateral bullying…
In a first, Pakistan has agreed to import US crude oil, marking a major shift in its long-standing dependence on Middle Eastern energy suppliers. Oil is Pakistan’s biggest import item, and its shipments were valued at $11.3 billion in the year ending June 30, 2025,(AFP) The historic oil deal comes just months after US President…
China’s oil imports from Iran saw a sharp increase in June, driven by accelerated shipments ahead of the recent Israel-Iran conflict and rising demand from independent refineries. The world’s top oil importer and biggest buyer of Iranian crude brought in more than 1.8 million barrels per day from June 1-20, according to ship-tracker Vortexa, a…