Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
10 January 2023 | Other

China's generous quota for crude imports boosted oil demand

Brent
WTI Light Crude Oil

China has significantly increased quotas for crude imports for 2023. The country seems set for an increase in Chinese refineries output and in oil demand after it abandoned its zero-Covid strategy. 

Reuters and Bloomberg said that China issued a second round of crude import quotas for 2023 on Monday.  The total for this year is up 20% compared to the same period last year. The document from the Ministry of Commerce says that quotas allow 44 private refiners to import 111.82 million metric tons of crude. 

As reported by Reuters, China also released the batch of quotas ahead of schedule to boost China’s Covid-hit economy by encouraging refineries to increase output.

Company MarketCheese

Recommended

United States. CFTC Crude Oil speculative net positions. The value of the indicator has decreased from 124.5K to 114.6K
Yesterday at 7:30 PM
United States. U.S. Baker Hughes Total Rig Count. The value of the indicator has increased from 563 to 573
Yesterday at 5:03 PM
United States. U.S. Baker Hughes Oil Rig Count. The value of the indicator has increased from 433 to 440
Yesterday at 5:03 PM
United States. Cushing Crude Oil Inventories. The value of the indicator has increased from -1.606M to -1.077M
24 June
United States. Crude Oil Inventories. The value of the indicator has increased from -8.263M to -6.088M
24 June
Top news
United States. PCE price index (YoY). The value of the indicator has increased from 3.8% to 4.1%
25 June
United States. Core PCE Price Index (YoY). The value of the indicator has increased from 3.3% to 3.4%
25 June
United States. GDP (QoQ). The value of the indicator has increased from 1.6% to 2.1%
25 June
European Union. Manufacturing PMI. The value of the indicator has decreased from 51.6 to 51.3
23 June
United Kingdom. BoE Interest Rate Decision. The value of the indicator remained at the same level of 3.75%
18 June
All news

Forecasts

AUDCAD buy
Period: 26.07.2026 Expectation: 1600 pips
Buying AUDCAD from support level
Indicators and reports FA Other Hot news Chart analysis
Yesterday at 10:41 AM 33
Reed_Marcus
GBPUSD sell
Period: 03.07.2026 Expectation: 1310 pips
GBPUSD is still poised for further downside
Technical analysis FA Other Chart analysis Indicators Fundamental analysis
Yesterday at 10:12 AM 23
Lyra_Moonwell1
Brent sell
Period: 03.07.2026 Expectation: 500 pips
Higher supply and weaker demand is likely to push Brent into red zone by weekend
Technical analysis Hot news Indicators Fundamental analysis
Yesterday at 08:09 AM 17
Emily_Foster
USDCAD buy
Period: 26.07.2026 Expectation: 3100 pips
Invest in USDCAD up to 1.45000
Indicators and reports FA Other Hot news Chart analysis
Yesterday at 07:22 AM 19
Sinclair_John
ETHUSD sell
Period: 02.07.2026 Expectation: 19500 pips
Selling ETHUSD with $1,585 in view following short-lived recovery
Technical analysis FA Other Chart analysis Indicators Fundamental analysis
25 June 2026 37
Lyra_Moonwell1
AUDCAD buy
Period: 31.07.2026 Expectation: 220 pips
Buying AUDCAD up to 0.9837
TA Other FA Other
25 June 2026 18
Bruce_Powers
Go to forecasts