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Saudi said no need to adjust oil pact to curb output

Saudi Arabian energy minister Al-Falih said on June 10th no immediate need to adjust oil pact. He said the weak performance of oil price was an overreaction to statistical glitches.

June 13, 2017

U.S. SPR saw a sharp decline to the lowest level in over 11 years

On June 13th, according to Bloomberg, statistics of U.S. Department of Energy showed that U.S. strategic petroleum reserve (SPR) read 684.6 million barrels-685 million barrels last week.

June 13, 2017

Output cut and demand rise made crude oil price rebound

On May 9th, due to the output cut in Libya and the demand rise in China and the United States, the international crude futures price rebounded slightly, despite the big increase in U.S. dril

June 13, 2017

Gasoline and diesel markets still face downward pressure amid the bearish factors

Oil producing countries prolonged the production cut for nine months on the conference in Vienna, but investors were disappointed with a higher expectation, so the bulls were sold out, press

June 13, 2017

Eight categories of high environmental risk enterprises shall get environmental insurance

On June 9th, MEP and CIRC jointly announced The Measures for the Administration of Compulsory Liability Insurance for Environmental Pollution (Exposure Draft), so as to build a system for en

June 13, 2017

Terminal oil product spending dropped amid the price war after the retail price adjustment

According to National Development and Reform Commission (NDRC), on June 9th (24:00) the gasoline and diesel (standard products) prices were reduced by CNY180/mt and CNY175/mt

June 12, 2017

The first alkane deep processing unit in Ningxia may operate in July

Olefin deep processing units, like alkylation unit, aromatization unit, isomerization unit, are mainly developed in West China.

June 12, 2017

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