China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.
Beijing started processing in March applications from Chinese companies to waive import tariffs on U.S. energy goods as part of the Sino-U.S. Phase 1 trade deal and they have since bought liquefied natural gas and liquefied petroleum gas from the United States.
The world’s largest crude importer is boosting U.S. energy imports at a time when the world is swamped with excess supply after the Organization of the Petroleum Exporting Countries and Russia failed to extend production cuts and as measures to curb the spread of the coronavirus destroyed demand. Cheap U.S. energy supplies will help China lower its import costs, but the deep discounts will add further pressure on U.S. producers to shut in production after U.S. crude futures CLc1 slumped to their lowest since 2002. [O/R]
U.S. Mars Sour crude has been sold to Chinese buyers at discounts between $7 and $9 a barrel to September ICE Brent futures for July arrival while the discounts for West Texas Intermediate crude in Midland were between $6 and $7 a barrel, the sources told Reuters.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Asia shares edge up, China factories show flicker of lifeAsian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.
続きを読む »
Pandemic to hit growth in Asia, China: World BankThe coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday.
続きを読む »
The US lags Europe and China in the labor market recovery race, economists sayEurope and China are outpacing the U.S. in shoring up their labor markets amid the historic fallout from the coronavirus pandemic, according to economists.
続きを読む »