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Shared bicycles dragged oil daily demand of 30,000 barrels

Bicycle was born 200 years ago and modern oil industry was born 158 years ago. In 2017, oil price slumped to its worst time, but bicycle is coming into its glorious era.

June 15, 2017

IEA: Global oil oversupply won't be relieved in 2017

IEA said on Wednesday that global oil oversupply will last until the end of 2017. Currently, the endeavor of OPEC to curb output encountered obstruction in the U.S.

June 15, 2017

The crude oil price fell by 4% amid the accidental surge of US gasoline stock

According to Reuters, crude oil price fell by about 4% on June 14th, creating the lowest settlement price in the past 7 months.

June 15, 2017

Oman crude processing profits rose to CNY111/mt

This week, based on the settlement price CNY3,300/mt of light marine crude (density: 0.88-0.90) at Shandong market on June 14th, the theoretical processing profits of teapots were CNY41/mt,

June 15, 2017

Zibo Xintai Petrochemical was granted to use imported crude oil 2 million mt/yr

China Petroleum and Chemical Industry Federation (CPCIF) claimed on June 14th that Zibo Xintai Petrochemical Co., Ltd was qualified for using import crude oil 2 million mt/yr preliminarily.

June 15, 2017

China Offshore Bitumen CDU operation pushed up the run rate to 60.31%

According to JLC statistics from 40 Shandong teapots, up to June 14th, 2017, the CDU run rate hiked by 1.05 percentage points WoW to 60.31%.

June 15, 2017

Shandong Qingyishan Petrochemical was granted to use imported crude oil 3 million mt/yr

China Petroleum and Chemical Industry Federation (CPCIF) claimed on June 14th that Shandong Qingyishan Petrochemical Technology Co., Ltd was qualified for using import crude oil 3 million mt

June 15, 2017

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