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Refinery

The perfect storm is brewing in US diesel markets | OilPrice.com

1. Threat of Railroad Strike Highlights US Energy Vulnerability – The prospect of a nationwide railroad strike pushed U.S. natural gas futures above 9 per mmBtu amid fears of rail coal disruption, underscoring the importance gas in the production of electricity. – According to the US EIA, natural gas consumption in the United States is …

The perfect storm is brewing in US diesel markets | OilPrice.com Read More »

Dollar Dominance

China and Russia move to disrupt dollar dominance in oil markets | OilPrice.com

The long-talked-about prospect of the end of US dollar hegemony in global oil and gas markets took another step closer to fruition last week with the announcement that Russian and Chinese oil and gas giants Gazprom and China National Petroleum Corporation (CNPC) agreed to change payments for gas supply in rubles (RUB) and renminbi (RMB) …

China and Russia move to disrupt dollar dominance in oil markets | OilPrice.com Read More »

oil tanks

China’s Covid lockdowns are the biggest threat to oil markets | OilPrice.com

The sharp drop in crude oil prices last week following news that China had extended the Covid-19 lockdown in Chengdu, the capital of southwestern Sichuan province, for the majority of its 21 million ‘people, has again highlighted the ability of such news to cause major oil price drops in a market characterized by uncertain supply …

China’s Covid lockdowns are the biggest threat to oil markets | OilPrice.com Read More »

OPEC

All eyes are on OPEC+ as oil prices fall below $90 | OilPrice.com

OPEC+ may have to cut its collective oil production targets much further this winter as a recession threatens Europe as it grapples with a severe energy crisis and China shows signs of falling demand of petroleum. The symbolic reduction of 100,000 barrels per day (bpd) announced this week is largely irrelevant to the equilibrium of …

All eyes are on OPEC+ as oil prices fall below $90 | OilPrice.com Read More »