The curious case of China’s missing trade data
The longer China delays publishing its detailed trade data for April, the more it is feeding speculation about the possible ulterior motives behind withholding the numbers, and hurting credibility.
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(Fri, 15 Jun 2018) In the June 2018 update of its <em>Short-Term Energy Outlook</em> (STEO), EIA forecasts Brent crude oil prices will average $71 per barrel (b) in 2018 and $68/b in 2019. The updated 2019 forecast price is $2/b higher than in the May STEO. Brent crude oil spot prices averaged $77/b in May, an increase of $5/b from April and the highest monthly average price since November 2014. West Texas Intermediate (WTI) prices are forecast to average almost $7/b lower than Brent prices in 2018 and $6/b lower in 2019.
Commoditization underpins LNG demand, supply and pricing innovations
Attendance was greater than ever at the IATA Fuel Forum in London. Ease of location was no doubt a factor, with fuel procurement teams flying in to London from all over the world. However, another factor is the current robust health of the airline industry... for now at least.
Development of Alaskaâs ANWR would increase U.S. crude oil production after 2030
(Thu, 14 Jun 2018) In December 2017, the passage of Public Law 115-97 required the U.S. Secretary of the Interior to establish and administer a competitive oil and natural gas program for the leasing, development, production, and transportation of oil and natural gas in and from the coastal plain of the Arctic National Wildlife Refuge (ANWR). Previously, ANWR was effectively under a drilling moratorium. Three sensitivity cases in EIAâs <em>Annual Energy Outlook 2018</em> explore the effect of this law on U.S. crude oil production.
How much more metallurgical coal can China buy from the US?
The metallurgical coal market has been abuzz with chatter since reports last week of a $70 billion package proposed by China to narrow its significant trade deficit with the US.
Rise in U.S. exports of jet fuel driven by Latin American and Caribbean countries
(Wed, 13 Jun 2018) The United States exported 186,000 barrels per day (b/d) of jet fuel in 2017, the eleventh consecutive year of increasing gross jet fuel exports. Almost two-thirds (62%) of U.S. jet fuel exports went to countries in Latin America and the Caribbean, especially Mexico. Relatively high domestic production and a growing international aviation industry have established the United States as a net exporter of jet fuel for the seventh straight year.
Power marketers are increasing their share of U.S. retail electricity sales
(Tue, 12 Jun 2018) Competitive power marketers supplied about 21% of the retail electricity sold in the United States in 2016, up from 11% in 2005. The share of retail electricity sales of regulated investor-owned utilities fell from 62% in 2005 to 52% in 2016. This shift was driven by the Energy Policy Act of 2005, which repealed the Public Utility Holding Company Act of 1935 and closed the original federal regulatory structure established by New Deal-era legislation, which was a combination of public financial reforms and regulations in the 1930s.
Global oil demand could leave gaping hole: Fuel for Thought
Global oil demand growth was a much heralded sidekick to supply cuts that rebalanced the market in record time. Now the Saudi Arabia-Russia pronged pact is considering reversing course on its output cut deal, while demand growth shows little sign of letting up.
Global oil demand could leave gaping hole: Fuel for Thought
Global oil demand growth was a much heralded sidekick to supply cuts that rebalanced the market in record time. Now the Saudi Arabia-Russia pronged pact is considering reversing course on its output cut deal, while demand growth shows little sign of letting up.
Global LNG trade continues to grow, especially from Australia and the United States
(Mon, 11 Jun 2018) Global trade in liquefied natural gas (LNG) reached 38.2 billion cubic feet per day (Bcf/d) in 2017, a 10% (3.5 Bcf/d) increase from 2016 and the largest annual volume increase on record, according to the Annual Report on LNG trade by the International Association of Liquefied Natural Gas Importers (GIIGNL). In 2017, there were 19 LNG exporting countries and 40 LNG importing countries. Australia and the United States were among the countries with the largest increases (2.7 Bcf/d combined) in 2017 LNG exports.