China’s oil consumption tumbles ($BBG)
Russia’s crude oil production falls ($BBG)
Coal consumption hits new record ($BBG)
China oil and gas output rises rapidly ($BBG)
China’s growing domestic gas production
China only buyer for Russia divestments ($FT)
U.K. supermarkets limit cooking oil sales
Indonesia prohibits palm oil exports
Indonesia justifies palm oil export ban
Fuel tax cuts boost Russia’s oil revenues
Commodity currencies hit by global slowdown
Emerging markets fear reprise of 1994 tequila crisis
EU explores options for Russia oil embargo
India blackouts during hot weather ($BBG)
U.S. PETROLEUM inventories including the strategic petroleum reserve depleted by -13 million bbl to 1,699 million bbl in the week to April 15. There were large draws in crude (-13 million bbl) and distillate fuel oil (-3 million bbl) underscoring the continued shortage of oil in global markets and strong demand, for now, for middle distillates from manufacturers and freight firms:
INDIA’s electricity grid is struggling to meet demand as air conditioning and refrigeration loads climb with temperatures that have been well above the long-term seasonal average. Frequency remains well below the target of 50 Hz, with a control range of 49.90-50.05, for much of the day as there is insufficient generation. The situation seems to have stabilised since early April but is fragile with little or no spare capacity to absorb additional shocks or meet further demand:
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