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China’s oil refining output hits two-year high in June

In June, China recorded its highest oil refining volume in nearly two years as domestic refineries ramped up operations after seasonal maintenance. According to Bloomberg, the surge was driven by national companies seeking to capitalize on favorable diesel market prices.

Yesterday at 9:58 AM
China to increase oil imports to replenish strategic reserves — Energy Aspects

Energy Aspects reports that China's push to stockpile crude will help offset weaker commercial demand and keep overall oil imports steady. China could buy up to 140 million barrels of crude for its strategic fuel reserves, with deliveries scheduled for Q4 2025 and Q1 2026.

Yesterday at 11:26 AM
China to increase oil imports to replenish strategic reserves — Energy Aspects
China’s oil refining output hits two-year high in June

In June, China recorded its highest oil refining volume in nearly two years as domestic refineries ramped up operations after seasonal maintenance. According to Bloomberg, the surge was driven by national companies seeking to capitalize on favorable diesel market prices.

Yesterday at 9:58 AM
China’s oil refining output hits two-year high in June
OPEC expects higher oil demand in Q3 2025

OPEC and its allies are ramping up oil output, anticipating very strong demand in the third quarter of 2025 followed by tight fuel supply-demand balance in subsequent months. The eight members of the alliance, including Russia, are ending years of production cuts meant to support oil markets.

Yesterday at 7:06 AM
OPEC expects higher oil demand in Q3 2025
Goldman Sachs raises oil price forecast for second half of 2025

Goldman Sachs has increased its oil price forecast for the second half of 2025, projecting Brent crude to average around $86 and WTI crude at $83 per barrel. The revision reflects concerns over potential supply disruptions and declining OECD petroleum inventories.

Yesterday at 6:54 AM
Goldman Sachs raises oil price forecast for second half of 2025
Oil demand outlook weakens amid US trade policy pressures — Bloomberg

Bloomberg reports that escalating tensions surrounding US global trade policy are further clouding the outlook for crude oil demand. The energy market faces additional pressure from growing expectations of a supply glut later this year.

14 July
Oil demand outlook weakens amid US trade policy pressures — Bloomberg
Oil prices face limited gains amid Saudi production increase

Oil prices continued their upward trend at the beginning of the week, extending gains from previous trading sessions, as markets reacted to potential new measures targeting Russian crude supplies.

14 July
Oil prices face limited gains amid Saudi production increase
Global oil market balance may soon tighten – IEA

The International Energy Agency (IEA) has pointed to a seeming contradiction in the global oil market balance, where the projected surplus does not correspond to the real state of supply and demand.

14 July
Global oil market balance may soon tighten – IEA
United States. CFTC Crude Oil speculative net positions. The value of the indicator has decreased from 234.7K to 209.4K

A decrease of the indicator value may contribute to the fall in quotes of WTI, Brent.

11 July
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has decreased from 539 to 537

A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.

11 July
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has decreased from 425 to 424

A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.

11 July

News on oil prices is not just information for specialists. This is an important signal for every experienced trader. This section of the website will help you understand when there’s a "Strong buy" signal for oil and when it is a "Strong sell" signal.

Oil price movements are more than just charts on a screen. It is one of the key drivers of the global economy. Understanding these dynamics helps in making rational decisions and adapting to changes.

What determines oil prices?

  • Global events. Political crises, conflicts, and agreements between producing countries have a huge impact on oil prices.
  • Supply and demand. When many consumers try to buy oil that is in deficit – the prices go up. Otherwise, when supply is greater than demand, the prices go down.
  • Russia and Saudi Arabia. These countries are among the leading oil producers. Their decisions on oil output have a direct impact on the global market.
  • OPEC. This is a group of oil-producing countries. Their agreements on production cuts are aided at stabilizing prices.
  • Alternative energy sources. The development of solar, wind, and other power stations can weaken the countries' dependence on oil and put pressure on its prices.
  • Electric cars. The increasing popularity of electric cars reduces the need for gasoline and, consequently, for crude oil.
  • Global tensions. Oil is a strategic resource. Geopolitical events can affect its production and prices.
  • Environmental constraints. Rising environmental awareness may reduce demand for oil, affecting its price.

Why follow the latest oil news?

  • To make informed investment decisions. Being aware of the oil industry news helps you make conscious choices.
  • To assess the impact on the economy. Oil prices can affect inflation, economic growth, and even our wages.