Porcelain oils hit raw prices like Trump Tariff Shock

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China oil traders put aside the concerns about the long-term economic damage of the US Trade War because they want to earn a profit from the short-term results: low raw prices.

Summary imports oil In March, according to the analysts, according to analysts, despite the demand of a weak global economy in the country, continued to accelerate in April.

KPLER, a data company that follows tankers in ChineseThe country imported about 11 mn barrels a day, in 18 months and in the highest level and 8.9mn b / d in January, he said.

The purchase and sale of Iranian oil, those who followed the US sanctions, more than the fear of US sanctions, were rejoiced by the increase in production by President Cartel OPEC, slides and sent to four years.

Benchmark Brent Crude then followed the trade from a barrel of $ 65 on Friday. Morgan Stanley believes that prices will be under pressure from the average of $ 62.50 in the second half of the year.

“China has always been sensitive at a lot of price,” said Giovanni Staunovo in the Swiss bank UBS. “If the price is low, they collect it and then reduce their purchases when prices rise. I expect that this month will be higher than the last.”

KPLER’s Johannes Rauball noted that China’s oil reserves were less and said that the current level of imports continued to be the current level of imported to restore buyers in low prices to restore inventory.

“If the demand is strong, you can see an upgrade in imports, even if it is strong,” he said.

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

However, the abrasion is still a serious impact on the appetite for the road or aviation fuel, and some processing plants delayed annual maintenance to ensure gasoline, diesel and jet fuel, while raw prices are analytical in Singapore in Singapore.

“In the coming months, no one can happen, especially in the second half,” he said. “But the demand looks very healthy, so I don’t expect a lot.”

China is the world’s largest oil importer and is the main market of oil, which is binding outside other markets, including Russia, Iran and Venezuelan.

From early April, China buyers received the purchase of Iranian oil from early April Sanctions on a processing plant Many special Chinese processing houses in East Sandong province. After importing 1.8 mn b / d of Iranian oil in March, the purchases in April fell to 1.2 mn b / d, KPLER said.

“Private refining plants have a little caution and some tankers are some material and technical obstacles related to the senders,” he said. “Currently, we see 40 mn barrels in the 36th ship. 18 mn barrels in Singapore, 10 mn, about 4 mn in the South China and South China.”

Added that private processing plants are likely to continue importing Iran due to a preferential price.

“Their edges are thin and there are no alternatives. They imported or bankrupt from Iran,” he said. “Many of them are not associated with the US financial system, so the results are hit, but the results are few.”