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DJN: China importing lowest amount of oil in 22 months

GasBuddy Blog -- The Dow Jones Newswires this morning have an interesting story about Chinese oil imports, a story that should be digested by the oil trading community. DJN is reporting "China's crude-oil imports fell to a 22-month low in August as its economy slowed and refiners, facing weaker demand and steeper losses, cut throughput targets."

Weaker Chinese demand is significant, because coupled with weaker U.S. demand as we head into cooler weather, there could be an increase of inventories. Not only is cooler weather going to reduce seasonal demand in the U.S., but the highest gasoline prices ever for this time of year certainly won't spawn a sudden uptick in drivers.

While oil demand may remain weak, it could boost margins at U.S...

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Submitted Sep 10, 2012 By: PD

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WGW1 Champion Author British Columbia Posts:1,242 Points:389,240 Joined:Jun 2010	Message Posted: Sep 26, 2012 12:15:45 PM Ignore WGW1 Report Abuse the wondrous web that oil weaves.
flagtown25 Champion Author New Jersey Posts:1,177 Points:491,805 Joined:Oct 2011	Message Posted: Sep 26, 2012 9:28:05 AM Ignore flagtown25 Report Abuse Ok
Sego Veteran Author Florida Posts:383 Points:70,305 Joined:Apr 2012	Message Posted: Sep 21, 2012 5:15:25 PM Ignore Sego Report Abuse ups and downs
albert2008 Champion Author Winnipeg Posts:7,347 Points:1,480,035 Joined:Sep 2008	Message Posted: Sep 21, 2012 1:28:02 PM Ignore albert2008 Report Abuse good stuff
pricewar Champion Author Ogden Posts:1,935 Points:273,265 Joined:Jul 2012	Message Posted: Sep 21, 2012 12:32:26 AM Ignore pricewar Report Abuse dream dream dream, we heard that song before. if its not china, who will it be next year? hey, my friend Moderator, how much oil do we really buy from china? will that 2 year (short by two months) really make a difference at the pump. give us some numbers. some real facts. not a teaser for hope... lets get real! Now lets not get too gassy my friends.
99dakota Champion Author Providence Posts:8,107 Points:2,171,725 Joined:Oct 2006	Message Posted: Sep 19, 2012 6:38:48 AM Ignore 99dakota Report Abuse Maybe lower prices for us.
margeret9021 Rookie Author Virginia Beach Posts:53 Points:17,185 Joined:Sep 2012	Message Posted: Sep 16, 2012 9:19:47 PM Ignore margeret9021 Report Abuse yes
albert2008 Champion Author Winnipeg Posts:7,347 Points:1,480,035 Joined:Sep 2008	Message Posted: Sep 15, 2012 11:38:45 AM Ignore albert2008 Report Abuse it is what it is
Donatelo Champion Author Dayton Posts:1,121 Points:292,685 Joined:Apr 2011	Message Posted: Sep 15, 2012 10:28:16 AM Ignore Donatelo Report Abuse ok
Gas4Gore Champion Author Detroit Posts:2,411 Points:421,925 Joined:Jan 2010	Message Posted: Sep 14, 2012 5:02:47 PM Ignore Gas4Gore Report Abuse Anyone curious about how long before the communist Chinese start having their depression.
albert2008 Champion Author Winnipeg Posts:7,347 Points:1,480,035 Joined:Sep 2008	Message Posted: Sep 13, 2012 11:32:29 AM Ignore albert2008 Report Abuse the merry go round continues
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Sep 12, 2012 7:53:20 AM Ignore honda0105 Report Abuse the usual PD stuff...
sparky808 Champion Author Honolulu Posts:2,993 Points:596,760 Joined:Sep 2011	Message Posted: Sep 11, 2012 3:34:08 PM Ignore sparky808 Report Abuse Thank you for posting.
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Sep 11, 2012 3:23:00 PM Ignore honda0105 Report Abuse slowing down economy? Or smarter use of energy?
nevaeh04 Rookie Author Texas Posts:82 Points:170,655 Joined:Aug 2012	Message Posted: Sep 11, 2012 10:03:37 AM Ignore nevaeh04 Report Abuse ok pretty good
OldMan322 Champion Author Illinois Posts:5,149 Points:1,593,745 Joined:Jul 2008	Message Posted: Sep 11, 2012 8:22:07 AM Ignore OldMan322 Report Abuse This maybe a sign the chinese boom is over
Cakes77 Champion Author Harrisburg Posts:5,156 Points:1,651,670 Joined:Aug 2006	Message Posted: Sep 11, 2012 8:04:36 AM Ignore Cakes77 Report Abuse Things clearly are slowing down there.
yardslave Champion Author Oklahoma City Posts:2,549 Points:595,830 Joined:Dec 2005	Message Posted: Sep 11, 2012 7:30:42 AM Ignore yardslave Report Abuse Sounds like all we have is fear in the Middle East to sustain our high prices. And weather events Refinery fires Exchange rates, Changing blend shortages Traffic jams Theft recovery Sunspots I guess we're okay.....
Jeffro61 Champion Author Cleveland Posts:2,267 Points:2,284,745 Joined:Oct 2005	Message Posted: Sep 11, 2012 6:16:34 AM Ignore Jeffro61 Report Abuse Good
tomok Champion Author Portland Posts:32,975 Points:2,344,535 Joined:Aug 2006	Message Posted: Sep 11, 2012 6:12:22 AM Ignore tomok Report Abuse China importing lowest amount of oil in 22 months? Less demand on world oil suppliers, cheaper world crude oil prices, so cheaper prices at the pump??? The Chinese economy has been affected adversely and their growth has slowed along with everyone else? Welcome to the club! Is 22 months the time for the world recession to reach China? Like cheaper prices at the pump is going to happen with Big Oil and Chuck around! Big Oil will maintain their profit and there is nothing anybody can say or do anything about it. 'Coming out of the closet' Chuck's economy is not improving but continues to hurt the population and the job numbers continue to be down – no matter how smoooooth talking Chuck spins those numbers and he can spin them very well! People will still drive and buy fuel no matter what but it sure helps to have a job also! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, has a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
fillerupyeoww Champion Author Columbus Posts:5,874 Points:1,648,465 Joined:Mar 2008	Message Posted: Sep 11, 2012 6:08:28 AM Ignore fillerupyeoww Report Abuse Then it should be cheaper, right? Never mind.
germainesr Champion Author Columbia Posts:1,126 Points:350,435 Joined:Sep 2008	Message Posted: Sep 11, 2012 6:05:09 AM Ignore germainesr Report Abuse We should have a "buy no gas day"
pepinoNC Champion Author Raleigh Posts:2,149 Points:657,815 Joined:May 2011	Message Posted: Sep 11, 2012 6:04:54 AM Ignore pepinoNC Report Abuse Oil companies will charge whatever they think they can get. Has nothing to do with supply and demand. Also higher prices helps their puppet Romney.
NJColt Champion Author New Jersey Posts:12,635 Points:2,642,010 Joined:Aug 2005	Message Posted: Sep 11, 2012 6:04:40 AM Ignore NJColt Report Abuse Just drop the price in the U.S.!!!
Chem60 Champion Author Tallahassee Posts:3,814 Points:812,075 Joined:Oct 2010	Message Posted: Sep 11, 2012 6:00:39 AM Ignore Chem60 Report Abuse Of course prices will go up; refineries will be closed for "maintenance" and oil companies' profits will soar.
jadeusa Champion Author Dallas Posts:9,331 Points:1,824,015 Joined:Sep 2005	Message Posted: Sep 11, 2012 5:56:21 AM Ignore jadeusa Report Abuse Oil prices are a bubble that will eventually will burst. Won't be sorry to see some of the speculators lose their shirts, pants, and whatever when it happens.
DavidsChallenge All-Star Author Louisville Posts:635 Points:125,805 Joined:Aug 2012	Message Posted: Sep 11, 2012 5:55:37 AM Ignore DavidsChallenge Report Abuse Oil will go up!
yonasb Champion Author Houston Posts:3,463 Points:737,625 Joined:Apr 2011	Message Posted: Sep 11, 2012 5:55:21 AM Ignore yonasb Report Abuse Ok
Hop1LA Champion Author Baton Rouge Posts:3,309 Points:1,175,520 Joined:Apr 2008	Message Posted: Sep 11, 2012 5:54:23 AM Ignore Hop1LA Report Abuse Oil prices should be declining
LeeFree Champion Author Pittsburgh Posts:9,146 Points:2,242,475 Joined:Jun 2005	Message Posted: Sep 11, 2012 5:53:58 AM Ignore LeeFree Report Abuse I have to agree, don't look for oil prices to fall very much, if at all.
Petrock Champion Author Lexington Posts:9,118 Points:2,556,785 Joined:Apr 2005	Message Posted: Sep 11, 2012 5:52:23 AM Ignore Petrock Report Abuse Prices don't appear to be influenced by this situation. They are still going up!
pitamon Champion Author Philadelphia Posts:4,899 Points:1,825,385 Joined:Sep 2004	Message Posted: Sep 11, 2012 5:51:25 AM Ignore pitamon Report Abuse why is gas going up?
jeff95519 Champion Author California Posts:2,447 Points:1,353,265 Joined:Sep 2008	Message Posted: Sep 11, 2012 5:51:22 AM Ignore jeff95519 Report Abuse so then what
Yankee829 Champion Author Dallas Posts:2,201 Points:558,615 Joined:Sep 2010	Message Posted: Sep 11, 2012 5:50:46 AM Ignore Yankee829 Report Abuse Ok
hawkman1950 Champion Author Michigan Posts:2,615 Points:538,605 Joined:Aug 2010	Message Posted: Sep 11, 2012 5:50:35 AM Ignore hawkman1950 Report Abuse And still prices go up????????????????
Z06KY Champion Author Louisville Posts:5,140 Points:904,740 Joined:Nov 2010	Message Posted: Sep 11, 2012 5:48:44 AM Ignore Z06KY Report Abuse ok
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Sep 11, 2012 5:48:26 AM Ignore SUPERSTEVIEO Report Abuse the truth was stated... "it could increase margins..." who is holding the gun to our heads....
kirzon484 Champion Author Atlanta Posts:1,861 Points:432,310 Joined:Jun 2011	Message Posted: Sep 11, 2012 5:47:45 AM Ignore kirzon484 Report Abuse and there you have it
lindact Champion Author New Haven Posts:8,731 Points:1,715,995 Joined:May 2008	Message Posted: Sep 11, 2012 5:47:23 AM Ignore lindact Report Abuse Demand down and prices up ?!
etothek Champion Author Pennsylvania Posts:1,638 Points:329,705 Joined:Jun 2012	Message Posted: Sep 11, 2012 5:47:09 AM Ignore etothek Report Abuse ok
epf Champion Author Grand Rapids Posts:6,329 Points:1,890,380 Joined:May 2004	Message Posted: Sep 11, 2012 5:44:39 AM Ignore epf Report Abuse Not good news from an economy standpoint.
Foxt Champion Author Minnesota Posts:5,255 Points:2,019,355 Joined:Jul 2006	Message Posted: Sep 11, 2012 5:39:51 AM Ignore Foxt Report Abuse "While oil demand may remain weak, it could boost margins at U.S... "Never could mean a drop in prices, now could it?
tc316 Champion Author Twin Cities Posts:10,781 Points:1,726,655 Joined:Apr 2007	Message Posted: Sep 11, 2012 5:39:14 AM Ignore tc316 Report Abuse Ok
NotTom Champion Author New Hampshire Posts:5,346 Points:1,384,840 Joined:Aug 2005	Message Posted: Sep 11, 2012 5:38:22 AM Ignore NotTom Report Abuse ok
JoJoQc Champion Author Montreal Posts:5,336 Points:1,040,155 Joined:May 2010	Message Posted: Sep 11, 2012 5:36:06 AM Ignore JoJoQc Report Abuse Sounds good!
rjd1608 Champion Author Toledo Posts:5,356 Points:1,929,030 Joined:Aug 2003	Message Posted: Sep 11, 2012 5:34:59 AM Ignore rjd1608 Report Abuse ok, but why are prices still high?
padlocks2 Champion Author Virginia Posts:3,062 Points:621,880 Joined:Aug 2006	Message Posted: Sep 11, 2012 5:33:33 AM Ignore padlocks2 Report Abuse ok
gassy4u Champion Author Mobile Posts:3,763 Points:1,326,210 Joined:Sep 2005	Message Posted: Sep 11, 2012 5:33:16 AM Ignore gassy4u Report Abuse And gas goes up.
4bobux Champion Author Peoria Posts:1,962 Points:409,230 Joined:Mar 2012	Message Posted: Sep 11, 2012 5:32:19 AM Ignore 4bobux Report Abuse whatever...
aburns20 Champion Author Virginia Beach Posts:3,256 Points:673,280 Joined:Dec 2010	Message Posted: Sep 11, 2012 5:29:40 AM Ignore aburns20 Report Abuse Would like to see more info over a wider time frame before I believe this.