CNOOC exec says domestic crude oil output may rise to 65-70mln metric tons annually by 2030 (vs current 61mln)
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Pakistan Foreign Minister says US-Iran indirect talks are taking place through messages being relayed by Pakistan; Turkey and Egypt, among others, are also extending support for the talks
Russian Deputy PM Novak says "we will impose a gasoline export bank if necessary"; has possibility to increase oil production if required, but investment will be needed; is already trading oil without discount, and with a premium in a number of lines
CNOOC exec says domestic crude oil output may rise to 65-70mln metric tons annually by 2030 (vs current 61mln)
Energy Capital Partners is looking to make new investments in natural-gas-fired electricity plants but is moving cautiously, WSJ reports
OECD says global economic outlook remains robust but has weakened amid energy shock and geopolitical risks
On the Newsquawk feed at , 20 minutes before this page.
- Gas output likely to exceed 40bcm by 2030 (vs current 30bcm)
Context
CNOOC's forecast for rising domestic crude oil output signals a potential shift in China's energy landscape, which could influence global supply dynamics. If output does climb as projected, it may exert downward pressure on oil prices, particularly affecting WTI and Brent. This forecast also aligns with broader energy trends, potentially impacting market sentiment as investors adjust their positions accordingly.
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