With the economy still weakening and in need of a trade deal with the U.S., China is expected to bargain with Iranian imports and make compromises. Major state-owned companies are likely to comply, while Zhuhai Zhenrong may continue importing Iranian crude at about 270,000 b/d between now and August.
World Pipelines: The reduction in Venezuelan and Iranian exports will reshuffle the crude trade deck and the US will play a strong Asia hand this year and next, according to ESAI Energy’s Global Crude Oil Outlook released at the end of April.
Hellenic Shipping News: Renewed demand growth in China and reduced exports from the Middle East and Russia will shape the outlook for the international LPG market in 2020, according to according to ESAI Energy’s newly published Global NGL Two Year Outlook. The implications are bullish for U.S. exporters, who can take advantage of opportunities to place more of North America’s excess LPG in key export markets.