http://www.worldoil.com WorldOil CNOOC announces significant South China Sea discovery https://www.worldoil.com/news/2020/6/29/cnooc-announces-significant-south-china-sea-discovery CNOOC Limited has made a significant discovery of Huizhou 26-6 in Eastern South China Sea. It is expected to become the first mid-to-large sized condensate oil and gas field in the shallow water area of Pearl River Mouth Basin. Coronavirus resurgence slows China’s demand for U.S. crude https://www.worldoil.com/news/2020/6/26/coronavirus-resurgence-slows-china-s-demand-for-us-crude A second wave of Covid-19 infections in China’s capital is threatening to depress the nation’s appetite for American oil just after a pick-up in purchases. U.S. oil gaining appeal in Asia as OPEC+ suppliers limit output https://www.worldoil.com/news/2020/6/22/us-oil-gaining-appeal-in-asia-as-opecplus-suppliers-limit-output Refiners in the top crude-importing region have been forced to accept big reductions in their regular contracted volumes from producers including Saudi Arabia and Iraq in the past couple of months. They’ve also been taken aback by sharp swings in official selling prices. Chinese traders trying their luck with sanctioned Venezuelan oil https://www.worldoil.com/news/2020/6/17/chinese-traders-trying-their-luck-with-sanctioned-venezuelan-oil Officially, China hasn’t imported any Venezuelan crude since September after Washington sanctioned state entities including PDVSA. Information from data intelligence firm Kpler, however, signals the Asian nation is still buying, with as much as 3.3 MMbbl waiting off the Chinese coast as of June 15 and another 5 MMbbl en route to the port of Qingdao. China broke oil import records in May, signaling a nearly complete recovery https://www.worldoil.com/news/2020/6/8/china-broke-oil-import-records-in-may-signaling-a-nearly-complete-recovery Record figures underline how complete the demand recovery has been in the world’s largest oil importer, even as other countries struggle with the economic impact of lockdowns. It also suggests that China has been taking advantage of the collapse in prices to fill its strategic reserves on the cheap. Backup of tankers demonstrates China’s recovering oil demand https://www.worldoil.com/news/2020/6/1/backup-of-tankers-demonstrates-china-s-recovering-oil-demand Queues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand. Weekly Preview podcast: How prepared is the industry for an oil price rebound? https://www.worldoil.com/news/2020/5/29/weekly-preview-podcast-how-prepared-is-the-industry-for-an-oil-price-rebound Our look ahead the coming week, including how drillers' ability to react to an increase in oil and gas demand could be impacted by technical and manpower limitations, and what key OPEC players have in store for the first week of June. Saudis focus oil shipments on China during production cuts https://www.worldoil.com/news/2020/5/29/saudis-focus-oil-shipments-on-china-during-production-cuts An early look at Saudi Arabia’s crude exports for May shows that historic production cuts have done little to squelch the kingdom’s flood of oil to China, which is just getting back on its feet from the coronavirus. Oil’s biggest monthly advance ever stalls on U.S.-China tensions https://www.worldoil.com/news/2020/5/29/oil-s-biggest-monthly-advance-ever-stalls-on-us-china-tensions While futures in New York edged lower to trade near $33 a barrel, crude is still set for the biggest monthly gain in data going back almost four decades. Daily Brief podcast: A look ahead at the coming week in oil and gas, May 25-29 https://www.worldoil.com/news/2020/5/22/daily-brief-podcast-a-look-ahead-at-the-coming-week-in-oil-and-gas-may-25-29 Key trends for the coming week, including how industry groups' response to low oil prices differ dramatically in the U.S. versus other producing nations, China's big plans for its economy, and investment analysts turning their backs on key sectors of the industry.