China stockpiles oil as Trump tariff shock hits crude prices

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Chinese oil merchants are distinguishing concerns about long -term economic losses of US trade war because they want to gain from one of the short -term consequences: less crude prices.

Crude Oil China has grown in March and is about to accelerate in April, analysts say the country re -fills the stock despite the expectation that a weak global economy will reduce demand.

KPLR, a data company that tracks track on tankers ChinaIt is said that the country is importing about 11 million barrels a day, which is the highest level in 18 months and higher than 8.9mn B/D in January.

After President Donald Trump announced the tariff, the price of the Iranian oil began as the price of the Iranian oil after the price of the oil Cartel OPEC increased as the price of the price below four years, the extensive reserves of the crude.

Benchmark Brent Crude returned to trade above $ 65 per barrel on Friday. Morgan Stanley believes that prices will be under pressure, an average of $ 62.50 in the second half of the year becomes a barrel.

“China was always very sensitive to the Swiss Bank UBS oil market analyst, Giovanni Stonovo.” “If the price is low then they stocked it and then the price goes up when the price goes up. I hope this month’s data will be higher than the end of this strategic purchase.”

Johannes Rubble of KPL mentions that Chinese oil stock was low and he said he hoped that the current level of imports would continue for months because buyers take advantage of their listing less.

“Even if there is demand, you could see the increase in imports [for oil] “The scene does not strongly accept,” he said.

Most analysts believe that the economic impact of the US-China trade war will begin to reduce the demand for oil in the second half of this year, as the economy is slow.

However, this turmoil does not seem to be severely affected by China’s hunger for the fuel of roads or aircraft, and some refineries have delayed their annual maintenance of petrol, diesel and jet fuel and delayed their annual maintenance in the production of fuel, and the marginal is healthy, Emma Li, MA, MA, MA, MA, MA, MA.

“Nobody knows what will happen in the second half, especially in the next months,” he added. “But the demand looks pretty healthy so I don’t expect too much to decrease.”

China is the largest oil importer in the world and the main market for oil that has been forced from other markets including Russian, Iranian and Venezuela crude.

Chinese buyers have returned to Iran’s oil purchases from the beginning of April, when the United States was first imposed on A refinery of a refinery In East Shandong Province, many private Chinese refiners’ homes. In March, Iran’s oil record has been imported by 1.5 million B/D, and in April, the purchase has dropped to 1.2 million B/DA, KPLR said.

“There are some warnings among the private refiners and some tankers have some logistical barriers,” Rubal also said that the amount of Iran in the sea tanker has increased rapidly. “We currently see 46 million barrels on 36 ships. The 18MN barrel is in Singapore, 10 million in the yellow sea and about 4 mn in the South China Sea.”

He also added that private refineries are likely to continue the crude import of private refinery due to the discount prices.

“Their margins are thin, and they have no option. Either they import from Iran or they go bankrupt,” said Rawal. “Many of them are not associated with the US financial system, so they are less than the consequences.”