Page 22 - Platts Analytics News Today

SUFFICIENT spare capacity and more agile market monitoring appears to have given OPEC+ the confidence to take a more gradual approach to boosting oil supplies, despite warnings that it risks over-tightening the market as demand rebounds. Sufficient spare capacity and more agile market monitoring appears to have given OPEC+ the confidence to take a more gradual approach to boosting oil supplies, despite warnings that it risks over-tightening the market as demand rebounds.

Refining margins are finally seeing support from jet fuel demand growth, an analysis from S&P Global Platts showed June 1, with travelers taking to the sky amid increasing coronavirus vaccinations after prolonged lockdowns. Add in the start of summer holidays for much of the world and jet demand is picking up. The Platts Global Jet ...

OPEC expects Iran’s output hike not to hinder group’s plans OPEC expects the anticipated increase of Iran’s oil production unlikely to have a negative impact on the global market and output hike plans of the OPEC+ alliance, Secretary General Mohammed Barkindo said May 31. His remarks were voiced during a meeting of the delegate-level OPEC+ technical committee, which met to track compliance with production quotas and to review supply-demand forecasts “given the diverse range of uncertain...

COVID-19 state of emergency extension set to slow Japan gasoline demand Japan’s gasoline demand will continue to be slow in June, albeit increasing from a year ago, with the country set to extend its COVID-19 state of emergency to June 20 after marking double-digit year-on-year growth in May. Japan’s May gasoline demand, which increased significantly during the Golden Week national holidays at the beginning of the month, has slowed in recent weeks, and the trend will likely continue into Ju...

Seaborne coal prices have been bullish over the past year, largely rising from pandemic lows last spring as global energy demand resumes and economies strengthen. The prices are signaling a lack of supply as producers scramble to rehire furloughed workers and reconnect supply chains. However, there is uncertainty whether the sustained rally will lead to ...

Written by rjs, MarketWatch 666Here are some selected news articles from the week ended 22 May 2021. Part 2 is available here.

India to look to OPEC once oil demand recovers after Covid second wave The relationship between India and OPEC is more important now than ever. Any lingering ill-feelings between India and Saudi Arabia from their spat over the price of crude earlier this year should be quickly cast aside, to focus on each other’s growing importance as consumer and supplier. If OPEC needed a sobering reminder of India’s importance as a customer, it received it in the worst possible way: the resurgence of the...

Asian sugar traders in limbo as Vietnam’s antidumping policy looms Asian sugar traders are facing growing uncertainty ahead of Vietnam’s antidumping policy announcement in June, with market sources noting a rise in domestic prices amid depleting sugar inventory. Vietnam’s Ministry of Industry and Trade had conducted a public consultation on May 12 over antidumping investigations on Thai sugar imports, with the current duty structure on Thai raw and refined sugar imports at 33.88% and 48.8...

The global oil market remains set to tighten in the coming months as a demand driven rebound from the pandemic dwarfs the ongoing crisis in India and outstrips the potential for a quick return of Iran

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The recent conflict began on May 10, with rockets fired at Israeli cities from the Gaza Strip and the Israeli military carrying out air strikes in Gaza. Hamas also reportedly said it had targeted offshore gas installations. Chevron on May 12 said it had closed the Tamar platform on the order of the energy ministry, but has now been instructed to resume operations. "We remain focuse...