By Tsvetana Paraskova of Oilprice.com
Strict lockdowns in Shanghai and the resulting depressed fuel demand led in May to the largest annual decline in Chinese refinery production in at least the past decade, official data cited by Reuters showed on Wednesday. Last month, Chinese refiners processed around 12.7 million barrels per day (bpd) of crude oil, down by 10.9 percent compared to May 2021 , according to data from the Chinese National Bureau of Statistics. Refinery throughput was marginally higher compared to the April processing rate of 12.61 million bpd, but the April refinery output was also low by Chinese standards. Weak fuel demand amid strict lockdowns with China’s “zero COVID” policy was behind the largest annual plunge in at least a decade in May. Refining operations started to recover at the end of last month, when China announced a gradual easing of the lockdowns in Shanghai and Beijing. However, flare-ups since early June have prompted authorities to impose fresh curbs on mobility, in a sign that China’s oil demand recovery will not be smooth.
A new “explosive” outbreak in a Beijing district is threatening the demand growth recovery again this week.
Last week, a return to lockdowns in Shanghai weighed on oil prices, suggesting it may be a while yet before the Chinese economy returns to normal. On the flip side, news that China’s oil imports in May were 12 percent higher than a year earlier could potentially lend support to prices, although they may not be indicative of an actual demand increase.
“The easing of Covid-related restrictions in China should have provided a further boost to sentiment in the market. However, a flare-up of cases in Beijing and Shanghai more recently has seen authorities tighten restrictions once again. China’s covid zero policy remains a downside risk for the […]
Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!