Cum Clave analysis N.09 preview.
Saudi Arabia cuts deliveries of crude oil to China by at least 500,000 barrels per day (bpd) in March. China also buys much less because it already has many stocks. China normally consumes 1.8 million bpd to 2 million bpd of Saudi crude oil. Reduction of the target of consumption for March. The Saudi oil contracts they allow the seller or the buyer to adjust the load volumes of more or less 10% of the contracted volume, according to the demand and the shipping logistics based on a contractual clause known as operating tolerance.
The international scenario seems to be getting worse, the media do their part by sending panic. Prices are projected towards….
We mentioned Africa two weeks ago for procurement. We start from the communication that the countries of Latin America and sub-Saharan Africa have withdrawn at least $ 152 billion of loans guaranteed by oil, minerals and metal from China since 2004, easy money that has helped to paralyze debt levels, according to a recent report from the Natural Resource Governance Institute (NRGI). Alarm in progress? Maybe. Emerging market debt has doubled to $ 72 trillion in the past decade, while the International Monetary Fund (IMF) says that the number of countries in or at risk of suffering from debt has increased steadily…
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