Boyd Clark Resource Capital Solutions: Oil Demand in China getting better

Record of China’s crude imports in February is most likely as high as they will go. The country consumed a record of 5.95 million barrels per day of crude from overseas, continuing a recent robust run of imports.

Boyd Clark Resource Capital Solutions has seen that China has racked up three of the four strongest months on record for oil imports since November. In February, the alluded demand was 9.71 million barrels a day, with this figure calculated by adding net fuel imports to refinery throughput. But, if you add together net imports of refined products, crude imports, and domestic oil output, you get a figure some 670,000 barrels a day north of the alluded demand.

This means China has most likely been filling storage tanks, although it’s impossible to know for certain as the second-largest oil user of the globe don’t often publishes inventory data. It appears that they buy crude for storage when they evaluate oil prices to be relatively cheap. Meaning, that cargoes that will be arriving in March and April would have been purchased at considerably higher prices than those bought for January and February.

Boyd Clark Resource Capital Solutions specializes in providing financial services to entrepreneurs and innovated businesses requiring up to $2 million. We understand that the economic financial outlook is complex, and that’s why our professional advisers take the initiative in helping companies and individuals develop financial objectives, analysis of ownership structures, and a full range of portfolio planning.

Boyd Clark Resource Capital Solutions
317-1508 Broadway W, Vancouver, British Columbia, Canada, V6J 1W8
Phone: 604-484-1324
Fax: 604-800-2789
press@bcrcs.com
Thomas Porter

This release was published on openPR.