OPEC & Global Markets

Korean imports from key Gulf producers are on the rise. The country is importing increasing volumes from Saudi Arabia,...

The latest monthly reports from the IEA and Opec released this week both flag up faltering global oil demand...

Opec crude production tumbled to a four-year low of 30.76mn b/d in February as “involuntary” production cuts took their toll.

Saudi Arabia and Russia are increasingly cooperating in the energy sphere, having come together through the onset of Opec/Non-Opec production cuts since January 2017. But when it comes to the lucrative Chinese oil market, the two are engaged in a fierce battle for market share. China looks set to be the largest market for each in 2019 and Saudi Arabia is keen to wrestle back its crown as the dominant supplier.

Buying of Iranian crude edged up from multi-decade lows in January as Korea resumed buying. Japan provided a further boost in February. But gains look short-lived.

Chinese crude imports from Saudi Arabia were 1.357mn b/d in January, down almost 300,000 b/d from the all-time high...

India imported a record 1.083mn b/d from Saudi Arabia in January, the second time in three months that India...

Japan imported 1.358mn b/d from Saudi Arabia in January, a 14-month high. This puts Japan marginally ahead of China...

Kuwait has extended its lease of the 725mn cfd Golar Igloo FSRU for 2019 to continue LNG imports, US...

*Latest Chinese import data show the country imported a record 6.58mn tons of LNG in January, the third straight...

Iraq retained its lead over Saudi Arabia as top supplier to India in 2018. India is also Iraq's top customer, though China is now running it close.

*Taiwan imported 892,500 b/d of crude in 2018, the highest figure since 2010. Imports peaked at 1.046mn b/d in 2006. *Gulf suppliers...