Chinese policy critical to Asian crude prospects
All eyes are on Beijing as forecasters debate the prospects for the recovery of Asia’s oil demand
Asian crude demand is making an uneven recovery as the continent emerges from the coronavirus pandemic. Opinion is split on the near-term outlook, however, as Chinese policies have already had a negative impact and—in concert with other factors—could potentially cap or even derail the rebound. Chinese crude imports were down in the second and third quarters of this year after rising in the first quarter following a post-Covid pick-up in industrial activity. The renewed slowdown came after Beijing introduced policies for refiners that included reduced crude import quotas for independents, a new consumption tax on blending components and deep cuts to product export quotas for all players— incl
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy