Russia-China Friendship Makes Europe’s Crude Oil More expensive

By OG Market Report Posted in Oil Prices Production

Posted on January 3, 2018

Europe will be paying more for oil now that russia is moving more of its supply to the chinese oil market. Russia is the biggest crude oil supplier to China and will most likely gain the exports to the country by 200,000 barrels a day in 2018. Russia supplied 5.12 million tons of their crude …

China To Open A Domestic Oil Futures Market

By OG Market Report Posted in Finance

Posted on January 2, 2018

China is set to open a domestic oil market to trade futures contracts. According to Bloomberg Businessweek, “The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed …