Page 9 - Platts Analytics News Today

Threats of war over Ukraine — with China and Russia making an unexpected pact to stand together — has seen oil prices head for $100 a barrel again and intensified concerns about Europe’s gas future. Is this a turning point in the global order and something we need to worry about?

OPEC and its allies continue to underperform their increasingly lofty oil production targets, with the group falling a record 700,000 b/d short of its collective quotas in January, according to the latest S&P Global Platts survey. OPEC’s 13 countries raised output by 150,000 b/d from December, pumping 28.19 million b/d of crude, while the nine ...

Venture Global LNG’s Calcasieu Pass appeared to be ramping up production at the Louisiana facility Feb. 4 as it prepared to load its first export cargo, possibly within days. The operator was asking US regulators for permission to load its first export commissioning cargo on or after Feb. 9. Feedgas deliveries to the terminal were ...

Events in 2021 exposed significant hurdles governments and markets still need to overcome during the energy transition journey, but there were also signs of progress. The rapid return of global energy demand to near or above pre-pandemic levels in 2021 caught markets off guard, which resulted in record-high energy prices in major markets. Despite the ...

As demand for wind turbines — and the steel plate and rebar needed to build them — grows in the race to decarbonize energy sources, steelmakers and their windpower customers are striving to more closely align their sustainability goals. Several European Union platemaking mills — prime movers in steel sector decarbonization worldwide — are bringing ...

Indian petroleum minister Hardeep Singh Puri has urged global oil producers to boost global supplies of crude oil as consumption is taking place at a faster pace, squeezing cargo availability, putting upward pressure on prices and threatening to derail the demand recovery. The comments from one of Asia’s leading oil importers come after OPEC and ...

Russian gas flows to Europe fell further in the first month of 2022 having already been curtailed toward the end of last year, an analysis of flow data from S&P Global Platts Analytics showed. Russian pipeline exports to Europe in January via its four main corridors — Nord Stream, Yamal-Europe, Ukraine and the TurkStream string ...

OPEC and its allies agreeing to a modest output hike may do little to soothe Asian buyers struggling with high oil prices, as concerns loom about the group’s production target being curtailed by capacity constraints, analysts told S&P Global Platts. Asian refiners have continued to call for OPEC+ to raise supply by at least 800,000 ...

US natural gas inventories likely posted the largest weekly withdrawal since last February’s winter storm as the Henry Hub prompt-month contract approaches $5/MMBtu ahead of another cold front featuring freeze-off potential. The US Energy Information Administration is expected to report a 274 Bcf withdrawal for the week-ended Jan. 28, according to a survey of analysts ...

OPEC and its allies are largely expected to affirm another 400,000 b/d hike in crude oil production quotas for March when they meet Feb. 2, but sure to be weighing on the virtual discussions will be the elephant in the room — potential Western sanctions on Russia. Should those sanctions come to pass, the oil ...