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Kuwait Expects Higher Demand From Chinese Crude Buyers In 2H23

OIL

Chinese demand for oil is seen continuing to rise at an assured rate during the second half of the year, Kuwait Petroleum Corporation (KPC) CEO, Sheikh Nawaf Saud al-Sabah, said.

  • KPC sees strong demand for crude oil from Chinese customers. Demand is expected at least similar if not more for the remainder of the year, al-Sabah said.
  • Kuwait’s crude oil exports dropped to just over 1.7mbpd in May, down from 1.95mbpd in April and the lowest in more than two years according to Bloomberg vessel tracking.

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