China: Could Record Russian Crude Imports See Saudi Squeezed?

...creased market share. MIDEAST BUYING FIRM FOR NOW…               Chinese imports from other Middle East suppliers also remained firm through May: at 54.1% the Mideast market share for the first five months of 2022 is on track to top the previous annual record of 52.2% set in 2014. Number three ov...

China LNG Buying Subdued But Qatar Volumes Surge & Revenues Triple

...lumes. The import bill for Qatar volumes was up almost threefold at $4.30bn versus $1.52bn for the year-ago period. Qatar’s overall export revenues of $28.6bn for Q1 were the highest since 2014 (MEES, 29 April)   *Whilst China’s fall in year-on-year import s is down to Covid-related lockdowns as we...

Saudi Wins Out, Opec Switches To Group Ceiling

...VENUES ROSE A MASSIVE $125BN, 2018’S GAINS COULD BE GREATER ($BN)   2013 2014 2015 20...

US Shale: Reading The Runes On Future Supply Growth

...rmian, is clouding the outlook. Collective US shale oil output topped 7mn b/d for the first time in May. At 7.07mn b/d, it’s up a massive 1.47mn b/d year-on-year, topping the previous record annual gain of 1.37mn b/d set in 2014. For the key Permian shale basin of west Texas, May’s 3.208mn b/d is not on...

Saudi Crude Exports Down, Refining Runs Up, More Products Exports

...e kingdom so far having prioritized its core buyers in Asia and the US. The big four Asian buyers – China, Japan, South Korea and India – took a record 4.216mn b/d in Q1, while the 1.285mn b/d purchased by the US was the highest since Q1 2014. The implication is that supplies to Europe are being sq...

Will Venezuela Join Libya & Nigeria In OPEC's ‘Long-Term Outage’ Club?

...ES, 10 June). Baker Hughes’ latest US rig count offers signs of hope. At 337, the number of active oil rigs remains almost 80% down on its October 2014 peak, but the number has risen in each of the past three weeks (see chart p16). Schlumberger’s Mr Schorn is cautiously optimistic. “Rig count le...

Saudi Runs Hit Record, Cut Into Exports (Jodi April Data, ‘000 B/D)

...D15 vs YTD14 vs YTD13 2014 Crude Production 10,308 +14 +648 10,294 9,980 +269 +81...

Massive Us Growth Balances Mideast Instability, But For How Long?

...erstate the degree to which the North American supply boom has, since its onset, consistently defied expectations,” the IEA says in its 2014 Medium-Term Oil Market Report, also released this week. “US and Canadian production for 2013 is 330,000 b/d greater than had been expected last year, 420,000 b/d gr...

MENA Oil & Gas: Key Production/Consumption Numbers From BP’s 2014 Statistical Review