Category Archives: OilGas
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OPEC+ Faces Fork in the Road
Posted on April 10, 2024 by Diligentia News in OilGas.OPEC+ once again extended its oil production cuts this month. The decision was anything but unexpected and, unlike previous production policy announcements, it had the desired effect on prices. However, it could only work for so long. Soon, OPEC will need to make a decision. Last year, oil traders were almost exclusively focused on demand […]
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China Surpasses India as Largest Importer of Russian Crude
Posted on April 10, 2024 by Diligentia News in OilGas.China has surpassed India as the primary importer of Russian crude oil via sea routes, with China importing 1.82 million barrels per day (bpd) in March compared to India’s 1.36 million bpd. This shift is attributed to India’s slowdown in imports due to sanctions and rising prices. China’s Rising Imports In March, China imported 1.82 […]
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The Energy Sector Is A No-Brainer, but There’s More to Come
Posted on April 9, 2024 by Diligentia News in OilGas.Historically, different market sectors and investments have responded differently as the economy moves from one stage of the business cycle to the next. Understanding how various financial assets have historically performed at various points in the business cycle can help investors identify opportunities and risks and adjust their portfolios accordingly. Shifts from one phase of […]
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India’s fuel consumption shrinks 0.6% in March as petcoke use falls
Posted on April 9, 2024 by Diligentia News in OilGas.Fuel consumption in India, a proxy for oil demand, fell by a marginal 0.6 per cent on an annual basis in March due to reduced petroleum coke use, as data released by the Petroleum Planning and Analysis Cell (PPAC) has shown. Consumption of fuel totalled 21.09 million tonnes (mt) in March, down from 21.22 mt […]
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Are Oil Prices Heading To $100 This Summer As A Global Shortage Takes Hold?
Posted on April 9, 2024 by Diligentia News in OilGas.When oil jumped above $90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence. A recent move by Mexico to slash its crude exports is compounding a global squeeze, […]
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Biden’s LNG export pause will hobble Asia’s energy plans
Posted on April 9, 2024 by Diligentia News in OilGas.As Japanese Prime Minister Fumio Kishida arrives in Washington this week to meet with Joe Biden, it is worth reflecting on the American president’s decision in January to pause approvals for new liquefied natural gas exports. First, it is important to understand how critical gas from the U.S., the world’s biggest exporter of LNG, is […]
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Asia’s March LNG imports surge amidst favorable spot prices
Posted on April 9, 2024 by Diligentia News in OilGas.Asia’s imports of liquefied natural gas (LNG) rose sharply in March as the top-buying region took advantage of lower spot prices to draw cargoes away from Europe, as Reuters reported. A total of 24.16 million metric tons of the super-chilled fuel landed in Asia in March, up from February’s 22.73m and also up 11.5% from […]
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Russia’s Yamal LNG to resume LNG supplies to India’s GAIL – Kommersant
Posted on April 9, 2024 by Diligentia News in OilGas.Russia’s Yamal LNG plant is set to resume liquefied natural gas (LNG) supplies to India’s GAIL under a long-term contract involving a Gazprom unit, Kommersant daily reported on Wednesday citing Russian government sources. Novatek, Yamal LNG’s main shareholder, has not replied to a request for comment. Kommersant said that supplies under the deal were suspended […]
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India’s fuel demand hits new FY record, up about 5%
Posted on April 8, 2024 by Diligentia News in OilGas.India’s fuel consumption fell 0.6% year-on-year in March, but demand for the 2024 financial year was up about 5%, primarily driven by higher automotive fuel and naphtha sales. Total consumption, a proxy for oil demand, totalled 21.09 million metric tons (4.99 million barrels per day) in March, down from 21.22 million tons (5.02 mbpd) last […]
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Oil at $100? Will oil prices hit a century this summer as a global shortage takes hold?
Posted on April 8, 2024 by Diligentia News in OilGas.When oil jumped above $90 a barrel just days ago, military tensions between Israel and Iran were the immediate trigger. But the rally’s foundations went deeper — to global supply shocks that are intensifying fears of a commodity-driven inflation resurgence. A recent move by Mexico to slash its crude exports is compounding a global squeeze, […]
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