Despite months of rumors regarding a rebound in global oil demand, oil prices are decidedly range-bound at the moment as they await a major development to break through resistance.
a 15-year LNG supply deal with Swiss commodity trader Gunvor for up to 2 million tons LNG per year, starting in 2027. A string of oil events around the world has been providing a steady flow of sound bites about the prospects of 2023 demand, but there is still no indication that the current $80-$86 per barrel bandwidth for Brent oil is to undergo any changes.
the oil and gas industry ought to promote decarbonization of the global economy and lead on climate change issues, seeking to boost investments into the Global South. The visit of the UN nuclear watchdog to Tehran seems to have eased tensions as Iran appears to have agreed to rekindle some form of information sharing and coordination after the Middle Eastern country was found to have enriched uranium to 84%.
that said Emirati officials are having an internal debate on the issue, following a series of clashes with Saudi Arabia. Colombia’s highest administrative court halted an attempt by the country’s President Gustavo Petro to take control of the energy and gas commission , arguing it is Congress’ prerogative toPhilippines will commission their first ever LNG terminal by April,
to the country’s energy minister, with the 3mtpa capacity Vires FSRU operated in Batangas Bay expected to meet energy needs as domestic gas output declines. on the Rumuekpe-Nkpoku Trunk Line in Nigeria’s Rivers State operated bykilled at least 12 people and postponed indeterminately the restart of the Bonny Light export terminal that has been in force majeure since November 2022.
the end of the 2022/23 winter season, and are expected to bottom out in late March at 617 TWh thanks to energy curbs and mild weather.As the Guyanese government is set to offer 14 offshore blocks in its upcoming licensing round next month, international oil majors such as
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WTI Crude Hits $80 Despite Disappointing Growth Plans From China | OilPrice.comWest Texas Intermediate (WTI) crude oil prices have broken above the $80 barrier despite disappointing growth plans coming out of China Monday.
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