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CIBC raised the predicted average price of WTI to $51/bbl in 2017

According to the customers’ report of CIBC, on September 28th, OPEC reached limiting production agreement unexpectedly. The agreement restricted the crude production at 32.5 million bbl/d,

September 29, 2016

Shell North China’s first oil products depot is put into operation in Tianjin

Shell North China Petroleum Group Co., Ltd Nangang Oil Depot received the first ship of oil on September 28th in Tianjin, indicating the operation of Shell in China will witness a great-leap

September 29, 2016

Refined oil retail prices may not be adjusted and gas stations’ profit remained downwards

In this pricing round, the freezing production agreement among oil producers continued to affect the international crude oil market, which drove the crude futures up for four times last week

September 29, 2016

OPEC reaches 'historical' output cut in Algiers meeting

The Organization of Petroleum Exporting Countries (OPEC) on Wednesday reached a "historical" agreement to ceil oil output from 33.24 million barrels a day to 32.5 or 33 million barrels a day

September 29, 2016

Shengli crude refining profits pegged at CNY151/mt

This week, based on the settlement price CNY2,850/mt of light marine crude (density: 0.88-0.90) at Shandong market on September 28th, the theoretical processing profits of Shandong teapots s

September 29, 2016

Saudi Aramco plans to invest US$335bn by 2025

Saudi Arabia's state-owned oil company Saudi Aramco has announced a US$334bn investment plan by 2025.

September 29, 2016

China MTBE import volume was lifted to 35,400 mt in August amid better demand

In August, international crude futures moved upwards. Gasoline market was acceptable and diesel sales situation turned better amid increasing prices. MTBE market rose visibly, and trading at

September 29, 2016

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