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Oil producing countries showed their willingness to extend the production cut agreement

Many OPEC members recently said that they would set the oil price at $60/bbl, which implied their strong willingness to extend the production cut agreement at the OPEC meeting to be convened

April 19, 2017

Maoming Petrochemical's pipeline throughout of naphtha reached 580,000 mt

In the first quarter of 2017, Maoming Petrochemical’s chemical department totally transported naphtha 0.58 million mt by pipeline, up by 60,000 mt YoY.

April 18, 2017

VLCC orders in Jan-Mar had exceeded the total in 2016

In the first three months, the global deliveries of VLCC, Suezmax, and Aframac vessels had reached the two-year high level, and meanwhile the total VLCC orders in January-March had surpassed

April 18, 2017

China crude oil output slipped 6.8% YoY in Q1 with expenditure cut

Despite China oil giants increasing the expenditures to stop output falling, in the first quarter of 2017 China crude oil output didn’t see improvement.

April 18, 2017

OPEC: Too much oil in the world

According to the latest monthly report released by IEA, although it believed that the market was very close to balance, the "re-leveling" between magnificent supply and demand has not yet oc

April 18, 2017

The U.S. output may see a rise and Cushing inventory up; the oil closing price declined

On April 17th (Monday), EIA data showed that Cushing crude oil inventory hit a new record, and the U.S. crude oil output and active drilling wells of crude oil all maintained growth, trigger

April 18, 2017

Crude oil futures market may remain powerful on growing geopolitical crisis

Recently, the international crude futures market kept bullish amid the growing geopolitical crisis in Syria and Korean peninsula and crude inventory decrease in the United States, despite th

April 18, 2017

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