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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 uncertainties” during the coronavirus pandemic. The JTC meeting was held ahead of a full OPEC+ ministerial ...

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 June, sources with Japanese refiners told S&P Global Platts. “We are facing uncertainty surrounding ...

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 ...