Tuesday, December 24, 2024

China’s Crude Oil Output Hits Six-Year Low

China’s crude oil imports at a four-month high as the country halts high-cost production Crude oil production from the world’s largest energy consumer hit a six-year low in August, according to information released by the National Bureau of Statistics Tuesday. Production in China fell 9.9% from a year ago to about 3.9 MMBOPD, the lowest since December 2009, according to

Saudi Arabia Reclaims Spot as Top Global Oil Producer

U.S. output down 460 MBOPD since May, making Saudi Arabia the largest global oil producer for now As lower oil prices put pressure on U.S. shale expansion, Saudi Arabia has reclaimed the top spot as the world’s largest producer of crude oil, according to the International Energy Agency’s (IEA) monthly report. “Saudi Arabia’s elevated oil production has allowed it to