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Energymarket

All articles tagged with #energymarket

business-and-finance2 years ago

"India's Russian Oil Imports Wane Due to Payment Struggles and Tightening Sanctions"

Russian oil tankers destined for India are turning back due to payment disagreements, as India pays for Russian oil in UAE dirhams but a Rosneft unit can't accept this due to banking issues. The situation is complicated by U.S. sanctions on Russian oil trade, particularly on the tanker NS Century. India, a major buyer of Russian oil since the Ukraine invasion, faces stalled shipments and pressure to align with Western sanctions.

via Yahoo Finance|
##business-and-finance#energymarket
energy2 years ago

"US Claims Global LNG Export Crown with Record 2023 Shipments"

The United States has become the world's largest exporter of liquefied natural gas (LNG), surpassing Australia and Qatar, with exports reaching 91.2 million metric tons in the previous year. This surge is partly due to the EU's efforts to decrease dependence on Russian gas and the resumption of operations at the Freeport LNG facility in the U.S. after a temporary shutdown. With new facilities starting up, including Venture Global LNG's Plaquemines in Louisiana and ExxonMobil and QatarEnergy's Golden Pass in Texas, the U.S. is expected to further increase its LNG exports. The Netherlands, the UK, and France were the primary destinations for U.S. LNG in the first half of 2023, with Europe being the main market in December.

via OilPrice.com|
##energy#energymarket
business-and-economy2 years ago

"2024 Oil Market Outlook: OPEC's Role, Global Wildcards, and Price Predictions"

Despite recent reports suggesting OPEC's diminishing influence on oil prices due to production cuts and a potential decrease in demand, the organization's impact is expected to remain significant in 2024. OPEC and its allies, including Russia, have reduced production, but the effects on the market may be delayed. Meanwhile, U.S. oil producers have increased output unexpectedly, though future productivity improvements are not guaranteed. OPEC still holds a substantial share of the global oil market and has spare capacity, indicating that reports of its irrelevance may be premature.

via OilPrice.com|
##business-and-economy#crudeoilproduction