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A rapid re-balancing of the European gas market looks an unlikely prospect in Q4 2021 as prices continued to reach fresh record highs deep into September. With storage stocks at historically low levels for the time of year, Asia beating out Europe for LNG cargoes, and Russia continuing to keep a lid on exports, there ...
The plan by OPEC+ to boost crude oil production by 400,000 b/d each month until December won’t be enough to cater to rising global oil demand and help build inventories, particularly in Asia, where more supply will be needed in the fourth quarter, the head of Vitol Asia said Oct. 3. “This tale end of ...
Energy industry prays for mild weather to avoid what could be a 'disastrous' winter
Gas-to-oil switching and improving demand in Asia amid tighter inventories could boost crude prices, currently at a three-year high, through October, before increased supply from the OPEC+ producer grouping and elsewhere limits upside, S&P Global Platts Analytics said in a recent report. The physical Dated Brent crude benchmark assessed by S&P Global Platts hit a ...
The future of crude oil is still bright until about 2030, when crude oil prices will likely hit peak demand, D V Mamadapur, executive director, international trade, Bharat Petroleum Corp. Ltd., or BPCL, said. “The COVID-19 pandemic has brought forward this peak demand by five years or so. The way we are going [ahead] into ...