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Supply of Algerian gas via Morocco to Spain in the GME pipeline was set to end Nov. 1 after the long-term transit deal between the two countries was not renewed ahead of its expiry on Oct. 31. Relations between Algiers and Rabat have worsened significantly in recent months, with Algerian President Abdelmadjid Tebboune on Oct. ...
OPEC’s claim that there is no shortage in the physical oil market appears at odds with the upward trajectory of the futures market. Varying appetites for different quality and regional crudes is the missing link. While the level of buying interest in Middle East barrels appears to better match OPEC’s strategy to steadily bring crude ...
OPEC and its allies appear set to reaffirm plans to increase crude production by 400,000 b/d in December after an advisory committee saw no major changes in the market’s supply/demand outlook, despite calls from major consumers to further boost output to tame three-year high oil prices. The OPEC+ Joint Technical Committee met on Oct. 28 ...
US gas production surged Oct. 25 to its highest since Hurricane Ida struck the US Gulf Coast in late August, foreshadowing a potential ramp up by producers ahead of the winter heating season. Evening cycle nomination data showed total domestic output at over 92.3 Bcf/d on Oct. 25 – a fresh two-month high, propelled by ...
Singapore’s bunker fuel sales for the 380 CST HSFO grade fell to a one-year low in the world’s largest bunkering port in September amid limited cargo availability, while total marine fuel sales volume also dipped overall last month, reflecting weak bunker demand. Bunker fuel sales of 380 CST HSFO in the city-port slipped 7.1% on ...