16 Dec 2024
Meanwhile, Chinese demand provided additional support to prices. Data released this week revealed that China, the world’s largest crude importer, experienced annual growth in crude imports for November—the first such increase in seven months.
16 Dec 2024
13 Dec 2024
Global oil benchmarks declined on Thursday, November 12, 2024, as market sentiment was pressured by the International Energy Agency's (IEA) forecast of ample supply for the coming year. This followed OPEC+'s decision in the previous session to lower its demand growth projections for the fifth time
13 Dec 2024
12 Dec 2024
The European Union’s decision to impose another round of sanctions targeting Russian oil exports in response to the ongoing war in Ukraine fuelled expectations of reduced global supply. Industry analysts noted that these measures could curb Russian crude flows, lending upward pressure to prices.
12 Dec 2024
12 Dec 2024
US commercial crude oil inventories fell by 1.4 million barrels during the same period, totalling 422.0 million barrels. This figure is approximately 6% below the five-year average for this time of year, suggesting continued supply constraints relative to historical norms.
