FROM THE OIL PATCH

China to surpass U.S. as world’s largest oil refiner in 2021
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China to surpass U.S. as world’s largest oil refiner in 2021

(Bloomberg) –Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. standards and sophisticated enough to turn a wide range of crude oils into high-value fuels.

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Oil price fundamentals begin showing longer-term strength

Oil price fundamentals begin showing longer-term strength

Oil price fundamentals begin showing longer-term strength By TIAGO RAMOS ALFARO AND ALEX LONGLEY on 11/24/2020 (Bloomberg) –The oil futures curve, an important gauge of trader bullishness, has strengthened to levels last seen in the early days of the pandemic as demand from Asian buyers surges and optimism grows for successful Covid-19 vaccines.

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