Diesel Pinch Looms
The global diesel market looks set to get even tighter. The global diesel market looks set to get even tighter as power generators and industrial users seek relief from surging Continue Reading
OPEC Update, August 2022
The OPEC Monthly Oil Market Report (MOMR) for August 2022 was published recently. The last month reported in most of the OPEC charts that follow is July 2022 and output Continue Reading
The World’s Rivers, Canals and Reservoirs Are Turning to Dust
A car heads south on a bridge over a mostly dry Platte River, south of Columbus, Nebraska, on July 28. Waterways have dried to a trickle thanks to droughts and Continue Reading
OPEC+’s Complains About Volatility, But Here’s What They Really Want
Numerous OPEC+ ministers have bemoaned oil prices volatility in recent weeks. Standard Chartered: when OPEC+ says volatility, what they really mean is ‘falling crude prices’ StanChart sees oil’s fundamentals as Continue Reading
UAE Likely To Support OPEC Oil Production Cuts
The UAE could support OPEC+ production cuts. Some OPEC+ producers, including Iraq, Venezuela, and Kazakhstan, have also signaled support for new production restrictions. OPEC+ meets next on September 5 to Continue Reading
Iraq pursues solar power goals, but hurdles remain
Iraq has ambitions to improve electricity supply using solar power, but those plans are being delayed by disputes over payment terms, inexperience among senior officials in dealing with solar agreements, Continue Reading
Shootouts and blasts erupt in Libyan capital
Intense fighting erupted in the Libyan capital overnight and lasted into Saturday morning, with rival factions exchanging heavy gunfire and the sounds of several loud blasts ricocheting around the city. Continue Reading
China’s Scorching Heat and Hydropower Missteps Test Nation’s Power Grid
Shanghai’s famous Bund went dark on Monday as authorities turned off the waterfront district’s decorative lights to save energy. China extended power cuts in some areas to cope with soaring Continue Reading
China Industrial Profits Drop 1.1% in First Seven Months of 2022
Bloomberg News Profits at industrial firms in China fell in the first seven months of the year as the economy continued to grapple with Covid disruptions and an ongoing slump Continue Reading
China July industrial profits down as COVID curbs, heatwaves hit
Profits at China’s industrial firms sank in July, reversing previous gains as fresh COVID-19 curbs dragged down demand and squeezed factory margins, while power shortages due to heatwaves threatened production. Continue Reading