GERMANY'S RENEWABLE UP
REUTERS - Germany raised the proportion of its power produced by renewable energy to 35 percent in the first half of 2017 from 33 percent the previous year, according to the BEE renewable energy association.
Germany is aiming to phase out its nuclear power plants by 2022. Its renewable energy has been rising steadily over the last two decades thanks in part to the Renewable Energy Act (EEG) which was reformed this year to cut renewable energy costs for consumers.
Germany has been getting up to 85 percent of its electricity from renewable sources on certain sunny, windy days this year.
The BEE reported on Sunday the overall share of wind, hydro and solar power in the country's electricity mix climbed to a record 35 percent in the first half.
The government has pledged to move to a decarbonized economy by the middle of the century and has set a target of 80 percent renewables for gross power consumption by 2050.
It aims to cut greenhouse gas emissions by 40 percent in 2020 from 1990 levels and 95 percent by 2050.
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Brent crude futures LCOc1 were at $51.02 per barrel at 0218 GMT, up 22 cents or 0.4 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $47.70 a barrel, up 15 cents, or 0.3 percent.
New data suggests that in 2Q17 global stocks fell by 0.5 mb/d and preliminary data for July, particularly in the United States where stocks fell by 790 kb/d, is supportive. Even so, we must not forget that they are falling from a very great height in volume terms. At the end of 2Q17, OECD commercial stocks, which are the component of the global total for which we have the most visibility, stood at 3 021 million barrels, still more than 219 mb above the five-year average although they have now fallen below 2016 levels. As an exercise, if OECD stocks fell by 0.5 mb/d until the end of 1Q18 when the current output agreements expire they would still be about 60 mb above the five-year average.
Средняя цена нефти марки Urals по итогам января - июля 2017 года составила $ 49,94 за баррель.
OPEC said world oil demand in 2018 will grow 1.28 million b/d from 2017 levels, meaning that total oil consumption is expected to hit a new record high of 97.8 million b/d in 2018.