China’s record trade surplus in 2021
China has achieved a record trade surplus of $676 billion in 2021, thanks to the strong recovery in global demand for materials (steel), consumer goods…
Brent prompt future contract came back to 63.5 $/b, after a weak session on Friday, as the forward crude balance resulting from the Texas energy crisis pointed towards lower US runs for an extended period of time. Indian refining runs topped 5.16 mb/d according to preliminary government data, as the nation’s demand fully recovered, except for jet demand. However, pump prices are at a record high due to tax hikes on refined products.
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