The record-high prices that were triggered by Russia’s squeeze on deliveries last year are now gone, but worsening economic conditions are hitting demand just as hard. Gas usage across Europe’s industrial landscape is projected to remain about 20% below 2021 levels.

Unemployment in South Africa is already among the highest of more than 80 nations

Oil-entropy is still ongoing,somewhat of a tug of war developing with a mix of SPR watch outs.At least the volume on the Geopolitics has toned down a bit,maybe on the 'baguette' side of life where protests have been rocking Paris.Taiwan presidential hopeful vows to maintain peace with China.

South African President Cyril Ramaphosa declared a state of disaster to enable the government to accelerate its response to an ongoing energy crisis, and said he’ll appoint a minister in his office who will focus on boosting the power supply.

China's crude imports from Russia have continued to stay elevated through 2022, averaging at 1.71 million b/d over January-August, up 7.3% year on year, according to customs data.

Lesson one is that energy security and energy transition must be in balance to sustain energy systems that are also affordable.

The European Commission aims to publish Sept. 28 a document detailing future steps to ease volatility and increase trading volume in energy markets after surging prices led to ballooning margin calls

With Russia squeezing gas deliveries and power-plant outages further sapping supply, pressure is growing on EU leaders to act quickly or risk social unrest and political upheaval.

Under the government’s latest “reasonable worst-case scenario,” Britain could face an electricity capacity shortfall totaling about a sixth of peak demand, even after emergency coal plants have been fired up, according to people familiar with the government’s planning.

“Until now I thought we had shot ourselves in the foot,” Orban said. “Now it’s more like the European economy had shot itself in the lungs and it’s now struggling to breathe.”