- Oil prices are higher by nearly $2/Bbl, reversing losses from last week
- WTI prices fell 7% last week as demand concerns continue to offset geopolitical risks from the Middle East
- A Hezbollah drone exploded near Israeli Prime Minister Netanyahu’s home on Saturday, prompting Israel to launch new military strikes on the group’s positions in Lebanon
- Israel has threatened retaliation against Iran following a missile attack earlier this month, adding to concerns over regional stability
- Aramco says oil demand may witness a long plateau, but no abrupt decline seen (S&P)
- Oil demand likely to stay above 100 MMBbl/d by 2050 with no abrupt drop expected
- Aramco sees significant growth in oil demand in the global south as national economies grow
- China's stimulus measures seen boosting oil demand, particularly for jet fuel and chemicals
- Aramco is investing heavily in China's complex integrated refineries and remains confident in geopolitical stability
- Malaysia’s crude exports to China surge (PGJ)
- China's crude oil imports from Malaysia increased by 17.5% in September, contrasting with the overall decline in Chinese imports
- China's total crude oil imports fell 0.6% last month, marking a fifth straight decline
- Sanctioned crude if often reexported from Malaysia to China
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