Crude demand in China has been losing steam recently, weighing on oil prices and helping to bring Brent back toward the $80 mark.
1. Can We Get a Little Contango Now- China’s swelling oil inventories and weakening crude demand as well as an alleged 12-million-barrel buildup in US stocks still not confirmed by the EIA as it skipped this week’s publishing schedule due to maintenance have weakened WTI to $76 per barrel, the lowest since July.
- According to Rystad Energy calculations, African geothermal projects will attract more than $35 billion in investments by 2050, bringing total installed capacity to 13 GW by that point Europe is set to see only moderate growth to 5.5 GW. - The vast untapped resources of the East African Rift will see two countries – Kenya and Ethiopia – spearhead Africa’s geothermal bonanza, accounting for 90% of future projects.
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