“This is Venezuela — they’re very disorganized with these types of things,” said Alejandro Grisanti, the director of the Caracas-based research firm Ecoanalitica. “Every day, it’s harder for them to pay.” The government had another $237 million in interest payments come due Saturday, and the National Public Credit Office has yet to announce their payment. A delay in those payments would bring the total in arrears to $587 million. Source Bloomberg
India’s crude oil imports in October rose to their highest level in at least more than seven years, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Tuesday. Source: Reuters
Saudi Aramco will sign five crude oil supply agreements with Chinese customers, it said in a statement on Wednesday, taking the volume of its 2019 China crude oil supply agreements to 1.67 million barrels per day. Source: Reuters
Crude oil stockpiles in China rose by 29.09 million barrels last month from a month before and are likely to continue up, S&P Global Platts calculations have suggested. The inventory build was a result of rising imports combined with lower refinery activity, which led to the 416.7-percent surge in October from September. Source: Oil Price
