The company said it expects crude oil flows via its network to decline to 439.1 million from 442.3 million tonnes in 2020 due to production curbs under a global deal.
PTT International Trading's price offer of $0.07 per barrel below West Texas Intermediate crude prices was the best of five offers presented for Petroecuador's first spot sale of 2021.
On the daily chart, the uptrend looks steady. Wave pattern seems to be clearer. Based on the assumption that the wave 5 would be equal to the wave 1, the trend may extend far above $52.01.
No.3 supplier Iraq shipped 5.098 million tonnes to China, or 1.24 million bpd, with volumes in the first 11 months totalling 56.94 million tonnes, nearly 21% above the year-ago level.