Vance Says US Will Use Iran MoU To Replenish Global Oil Supply Then ‘See Where the Hand Is’

Sinopec Sees China Oil Demand Falling 8.9% in 2026 By Charles Kennedy of OilPrice.com China’s Sinopec, the world’s top refiner by capacity, expects Chinese oil demand to drop by 8.9% in 2026 from a year earlier amid demand destruction from higher oil prices and the acceleration of electric vehicle adoption. Oil demand in the world’s biggest crude oil importer is expected to drop by 600,000 barrels per day (bpd) on average this year compared to last year, according to estimates by Sinopec’s research arm quoted by Reuters. Gasoline demand is set for an...

A retired Israeli general who has had significant influence on Israel’s operations in Gaza has called for the Palestinian territory to remain in a state of devastation “for generations,” Middle East Eye reported on Monday, citing Israeli media. “Israel has no interest in Gaza being rebuilt, it is better for us that it be destroyed […]

China "Aggressively" Selling Oil In Recent Weeks We knew there was a reason why China had accumulated a cool 1.5 billion barrels in its strategic petroleum reserve: the reason, to become the world's strategist petroleum reserve when the time arises... for a price of course. According to the chief executive officer of commodity trader Mercuria, Chinese oil companies have been aggressive sellers in recent weeks, selling barrels to several nations in tenders. “What has been happening in the last two or three weeks is actually they have been aggressively selling crude oil,” Mercuria...