Tag: WTI

Best in Energy – 27 February 2023

Indonesia’s production of lower-grade nickel surges

India boosts imports of low-grade coal to up generation

China accelerated approval for coal generators in 2022

(see also underlying report from CREA/GEM)

WTI to be included in Brent benchmark from June 2023

EU explores cautious electricity market reform ($BBG)

Russia’s semiconductor imports and sanctions ($WSJ)

NATO explores options to end war in Ukraine ($WSJ)

China’s diplomatic intervention in Ukraine ($BBG)

NATO and Russia at war in Ukraine ($WSJ)

U.S. OIL AND GAS drilling rigs fell by -7 last week to 753. The number of active rigs has fallen in five of the last eight weeks and is at the lowest since the start of July 2022. The upturn that started in August 2020 after the first wave of the pandemic has at least paused and possibly ended as drilling rates slide in response to lower oil and gas prices:

Best in Energy – 13 April 2022

WTI’s negative price – inside story ($BBG)

India faces coal and electricity shortage

OPEC/IEA tensions break into the open

OPEC reduces oil consumption forecast

German economists downgrade outlook

CNOOC to exit U.S./U.K./Canada assets

India’s refiners buy Russian oil ($BBG)

Jet fuel supplies are tightening ($BBG)

Energy crisis ousts climate policy ($FT)

U.S. petroleum product exports in 2021

U.S CONSUMER PRICES are increasing between two and four times faster than the central bank’s target of a little over 2%. Core prices for items other than food and energy have increased at a compound annual rate of 4.0% over the last two years and were advancing at an annualised rate of 5.8% in the three months from December to March. Services prices, which are normally more stable but also more labour-intensive, increased at a compound rate of 3.4% over the last two years and were rising at an annualised rate 7.1% between December and March. The rapidly rising cost of energy, raw materials, manufactured products, freight and labour is becoming more deeply entrenched in the rest of the economy:

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