China is looking to revive negotiations on joint oil exploration with the “new Philippine government” amid the two nations’ ongoing issues over maritime differences regarding the disputed South China/West Philippine Sea, officials said on Thursday. In a press conference in Beijing on Thursday, Foreign Ministry spokesman Wang Wenbin said that “China stands ready to work in concert with the…
China ‘Ready to Work’ on Advancing Oil Exploration Negotiations With New Philippine Government: Officials
Oil Prices Slip Ahead of G7 Talks on New Russian Sanctions
June 27, 2022
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LONDON—Oil prices edged lower on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations in Germany. The prospect of even tighter supplies loomed over the market as western governments sought ways…
Oil up More Than $1 but Set for Second Weekly Drop on Recession Fears
LONDON—Oil rose by more than $1 a barrel on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession. U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank’s focus on curbing inflation was “unconditional,” adding…
Oil Extends Falls as Investors Assess Recession Risks
LONDON—A retreat in oil prices continued on Thursday as investors reassessed the risks of recession and how fuel demand will be affected by rising interest rates. Brent crude futures fell by $1.47, or 1.3 percent, to $110.27 by 0949 GMT, having dropped as low as $108.04 earlier in the session. U.S. West Texas Intermediate (WTI)…
‘Badge of Honor’: US Senator Seeking Oil Export Ban for China Welcomes Beijing’s Wrath
June 22, 2022
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Asia & PacificChinacongressOilPoliticsRepublicansRubioThreat from Communist ChinaUSUS NewsUS-China relationsUyghursWorld
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Senator Marco Rubio (R-Fla.) was one of four U.S. lawmakers targeted by the Chinese regime’s retaliatory sanctions two years ago. And the pressure from Beijing hasn’t eased since. Data analytics from the past few months showed a sharp rise in attacks from Chinese media outlets and social media targeting the senator, who has been at…
‘Badge of Honor’: US Senator Seeking China Oil Export Ban Welcomes Beijing’s Wrath
June 22, 2022
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Asia & PacificChinacongressOilPoliticsRepublicansRubioThreat from Communist ChinaUSUS NewsUS-China relationsUyghursWorld
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Senator Marco Rubio (R-Fla.) was one of four U.S. lawmakers targeted by the Chinese regime’s retaliatory sanctions two years ago. And the pressure from Beijing hasn’t eased since. Data analytics from the past few months showed a sharp rise in attacks from Chinese media outlets and social media targeting the senator, who has been at…
Russia Becomes China’s Top Crude Oil Supplier; Nobel Peace Prize Auctioned to Aid Ukrainian Children | NTD Daybreak
China is taking advantage of the cheaper prices caused by strict Western sanctions on Russian oil. Russia has now passed Saudi Arabia as the lead supplier of crude oil for Chinese imports. 2021 Nobel peace prize co-winner Dmitry Muratov, pledged to donate $500,000 of his prize money to charities. Muratov put the prize up for…
Oil Prices Climb on Supply and Demand Fundamentals
LONDON—Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.61, or 1.4 percent, to $115.74 a barrel by 0825 GMT. U.S. West Texas Intermediate (WTI) crude for July, which expires later on Tuesday, rose $2.29, or…
China May Oil Imports From Russia Soar to a Record, Surpass Top Supplier Saudi
June 20, 2022
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SINGAPORE—China’s crude oil imports from Russia soared 55 percent from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine. Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean…
Live at 10:30AM ET: Oil Crisis Reaches Tipping Point as Biden Admin Refuses to Restart Production; Recession Goes Global
As the oil crisis reaches a tipping point, the Biden administration is refusing to renew domestic oil production. White House press secretary Karine Jean-Pierre is claiming the responsibility falls on oil companies, and oil companies have pointed to Biden’s policies and campaign promise to destroy the oil industry. Meanwhile, after the Federal Reserve raised interest…
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