China’s state-owned oil majors have stepped up Russian imports in a sign that Beijing is ready to give the go-ahead for more purchases of the country’s crude, according to industry consultants Energy Aspects. PetroChina Co. and CNOOC Ltd. recently resumed imports of waterborne Russian oil, with at least three supertankers of Urals-grade crude signaling China …
China’s oil market is making a comeback after a torrid year, driven by rising consumption at home and abroad that could help lift global prices and deliver a big payoff for its embattled refining sector. The stars are aligning after the government’s abrupt end to growth-sapping Covid Zero restrictions was followed by a burst of …
Continue reading “China’s Oil Market Makes Comeback on Covid Zero Exit and Exports”
MIAMI, Feb 8 (Reuters) – The chief executive of JPMorgan Chase & Co. (JPM.N), the biggest U.S. bank, cautioned against declaring victory against inflation too early, warning the Federal Reserve could raise interest rates above the 5% mark if higher prices ended up “sticky.” Jamie Dimon’s warning came after Federal Reserve officials said more …
Continue reading “JPMorgan CEO says too early to declare victory against inflation”
Official figures from the Russian Finance Ministry on Monday show a 35% decline in fiscal budget revenues in January, compared to the same period last year, reporting a ~$24-billion budget deficit for January. The budget deficit reflects oil and gas revenue that has declined 46% year-on-year, according to The Associated Press. Sanctions and an expensive …
Continue reading “Russian Fiscal Budget Shows 35% Decline For January”
major investment banks say china will grow above 5.5% in 2023, led by consumption and factory activity Analysts are upgrading their growth forecasts for China’s economy, after the easing of COVID restrictions that hit the country less than expected and as business activity quickens its pace. Experts and investment banks across the board have revised …
Continue reading “Economists continue to raise China’s economic growth forecast for this year”
Oil rose for a second session after Saudi Arabia unexpectedly raised its crude prices to Asia, signaling confidence in the demand outlook. Saudi Aramco increased most of its prices for crude that will be shipped to its main market of Asia in March, amid growing optimism over a robust demand rebound in China following the …
China SPY 200 FOOT WIDE BALLOONS HAVE FLOW OVER THE US AT LEAST 3 TIMES PREVIOUSLY…… UNDETECTED The United States Department of Defense said the reason why three suspected Chinese surveillance balloons passed through the continental United States undetected under the previous administration was Pentagon’s: “domain awareness gap,” “I will tell you that we did …
Continue reading “US says China balloons not detected due to ‘awareness gap’……..”
‘There’s nothing right now in my collection of metrics telling me that we’re anywhere close to a bottom.’ David Rosenberg, the former chief North American economist at Merrill Lynch, has been saying for almost a year that the Fed means business and investors should take the U.S. central bank’s effort to fight inflation both seriously …
Continue reading “Look for stocks to lose 30% from here, says strategist David Rosenberg”
IEA sees half of global oil demand growth coming from China Saudi hikes Asian flagship oil price for first time in 6 months Operations at Turkey’s 1 mln bpd terminal hit after earthquake Oil prices rose for a second straight session on Tuesday, driven by optimism about recovering demand in China, and concerns over supply …
Continue reading “Oil rises on China outlook, supply worries after Turkey earthquake”
Feb 6 (Reuters) – The U.S. Federal Reserve may need to lift borrowing costs higher than previously anticipated given the unexpectedly strong reading on jobs gains in January, Atlanta Federal Reserve Bank President Raphael Bostic said on Monday. Unless the report proves to be anomalous, “It’ll probably mean we have to do a little more …
Continue reading “Fed may need to push rates higher, Bostic tells Bloomberg”