Oil prices hit a six-month low after OPEC+ confirmed a production increase, while U.S. tariffs and geopolitical tensions added market uncertainty.
© 2024 Energy News Africa Plus. All Rights Reserved.
global energy market
-
-
Shell projects a 60 percent rise in global LNG demand by 2040, driven by Asia’s expansion. The U.S. and Qatar are expected to lead supply growth.
-
NNPC expands LNG exports to Japan and China, boosting its presence in global energy markets.
-
Oil prices fell $1 per barrel following a significant revision of U.S. jobs data, sparking fears of economic slowdown and adding to global market uncertainty.
-
China’s gasoline exports plummeted 35.7% in July as weak profit margins led refiners to cut operations and prioritize higher-margin fuels like jet fuel.
-
OPEC has reduced its 2024 global oil demand growth forecast due to weaker-than-expected demand from China, complicating decisions for the OPEC+ group on whether to increase production later this year.