global energy market

Oil prices hit a six-month low after OPEC+ confirmed a production increase, while U.S. tariffs and geopolitical tensions added market uncertainty.

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.