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Global Prices

All articles tagged with #global prices

energy1 year ago•4 min saved

"Qatar's Ambitious Plan to Increase Gas Output Despite Global Price Collapse"

Qatar plans to increase its natural gas production by 85% despite the recent drop in global prices, aiming to meet rising demand in Europe and Asia. The expansion will add 16 million metric tons per year to its liquefied natural gas (LNG) production, bringing total capacity to 142 million tons per year by 2030. The decision comes as Asian LNG prices have plummeted due to reduced demand, but Qatar remains optimistic about the long-term need for gas in both Europe and Asia. The expansion may not be the last, as further increases in production are not ruled out, and QatarEnergy has already signed supply deals for the project.

via Reuters|

#energy #global-prices #lng

business2 years ago•5 min saved

The Rising Cost of Olive Oil: What's Behind the Price Surge?

Global olive oil prices have more than doubled over the past year due to extreme weather conditions affecting olive crops in Spain, Italy, and other major producers. The upcoming European harvest is expected to recover only slightly from last season's 40 percent decline, further limiting supplies and pushing up prices. As a result, consumers can expect to face higher prices for olive oil, with some retailers planning to raise prices by 10 to 15 percent. The rising costs have prompted concerns about the sustainability of relying on one region for olive oil production and have attracted criminal gangs targeting farms and factories.

via The New York Times|

#business #consumer-impact #crop-shortages

agriculture2 years ago•3 min saved

El Nino threatens Indonesian coffee crop with extreme weather

Indonesia's coffee production, already at its lowest in over a decade due to excessive rains, faces further decline as El Nino's dry weather threatens the country's coffee-growing regions. The dry conditions, expected to intensify towards the end of 2023 and early 2024, could lead to reduced yields and potentially drive global coffee prices even higher. Indonesia's coffee output for 2023/24 is forecasted to be 9.7 million bags, down from 11.85 million bags the previous year. The majority of Indonesian coffee plantations are rain-fed, making them vulnerable to drought. The government is considering a program to bring in corporate buyers to train growers in best practices and act as off-takers.

via Reuters|

#agriculture #coffee-production #el-nino

energy2 years ago•2 min saved

Japan Defies US Allies, Purchases Russian Oil Above Price Cap

Japan has broken ranks with the US and EU to purchase Russian crude oil above the $60-a-barrel cap, citing the need to ensure access to energy from Moscow. The move represents a break in the US-led efforts to impose a global $60 per barrel cap on purchases of Russian oil. Japan heavily relies on imports of energy as the Asian nation has almost none of its own fossil fuels.

via Firstpost|

#crude-oil #energy #global-prices