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China Calls for Calm in the Red Sea as Oil, Shipping Prices Steadily Edge Higher

The Chinese Foreign Ministry issued a new appeal for calm in the Red Sea on Tuesday but made no mention of reports as to whether or not Beijing spoke with officials in Iran to rein in Houthi militants attacking cargo ships. ...

China Hosts Saudi Investment Event as Oil Buys Slump

China is hosting an investment conference focusing on Saudi Arabia on Tuesday. The event will coincide with a visit to Beijing by Saudi Arabia’s Investment Minister Khalid Al-Falih. The event will focus on enhancing cooperation in fields like clean energy, finance, and ...

Myanmar-China Oil and Gas Pipeline Control Station Destroyed in Latest Attack Affecting Chinese Interests

Myanmar’s military government said several of the country’s armed insurgent groups destroyed a control station of the Myanmar-China oil and natural gas pipeline in a state bordering China. The attack happened in the northern Shan State, which borders China’s Yunnan Province. The ...

China’s Imports of Iranian Oil Rise as U.S. Eyes Sanctions

China bought an average of 1.05 million barrels of Iranian oil per day for the first ten months of the year, as Iran’s output keeps growing. The data from the shipping tracker Vortexa shows that Chinese imports are the highest since 2018, when the U.S. imposed sanctions against Iran. ...

Contrasting Views on Whether Iran Will be Able to Continue Selling Oil to China

China's independent oil refiners, known as teapots, are betting that the U.S. won't crack down on Iranian oil shipments for fear of pushing up prices. While higher gas prices in the U.S. are always very sensitive, particularly in the run-up to ...

Analysis from Cobus van Staden

Misadventures in the Skin Trade

This week I spent a few days in Cape Town, in time for a minor, if telling, crisis in international agricultural trade. A ship crammed with 19,000 (mostly still living) cows was stuck in Cape Town harbor, en route from Brazil to the Middle East.
As South African animal welfare authorities scrambled to inspect the horrors on board, the city was enveloped in a powerful farmyard funk. The entire episode can ...

Climate Graph of the Day: After a Rapid Increase, China’s Oil Demand May Have Peaked

After decades of ever-growing oil use, China's oil demand may have peaked this year, according to Chinese oil executives cited by FT. This has significant implications for countries from Angola to Russia to Brazil, which depend on selling oil to China.

Climate Chart of the Day: China and the U.S. Spend the Most on Fuel Subsidies

Fossil fuel subsidies in 2022 amounted to $7 trillion globally, about 7.1% of global gross domestic product. It shot up by 18.3% year on year, partly in response to the Ukraine war, according to research by the IMF. The subsidies worsen ...

Saudi Arabia to Boost Oil Sales to China Next Year

Saudi Arabia is preparing to increase oil shipments to China in 2024 to meet growing demand from a crop of new refineries that will come online next year, according to S&P Global Commodity Insights. While Russian sales are expected to remain strong ...

China Importing Record Volumes of Sanctioned Iranian Oil

China is importing a record amount of Iranian crude, easily circumventing U.S. sanctions expressly designed to restrict such trade, according to new findings by the data intelligence firm Kpler. Iranian oil sales to China have jumped this year from an average ...

Massive Russian Energy Buys Are Transforming China’s Global Trade

Russia is now China's largest single supplier of energy commodities in a shift that is also transforming Beijing's trade engagement in countries throughout the Global South. Whereas fifteen years ago, China sourced a third of its imported crude oil from African ...
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