Over the next five years North America’s liquefied natural gas (LNG) export capacity to expand by 12.9 billion cubic feet per day (Bcf/d) as Mexico and Canada place into service their first LNG export terminals and the United States adds to its 11.4 Bcf/d of existing LNG capacity.

In the United States last year, according to the Energy Information Administration, natural gas accounted for 39.9 percent of electricity production; coal, 19.7 percent; nuclear, 18.2 percent; and renewables, the rest, although these are coming on fast.

Still, the trade has become a headache for Germany, which has explicitly said it won’t use gas from Russia in the fallout of the war in Ukraine. Berlin is facing sharp criticism over concerns that a government-run company still has ties to Moscow, despite its political rhetoric.

Oil has become the gift that keeps on giving. Aggressive long liquidation leaves the markets exposed to a strong geopolitical bid as it has a direct effect on oil production and transportation in the Middle East.

Preliminary production figures for August 2023 show an average daily production of 2 006 000 barrels of oil, NGL and condensate.

“Any sudden changes to LNG supply or demand in Asia or the Americas could easily have a domino effect into Britain and Europe.”

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.

The Worldwide Rig Count for August was 1,788, down 32 from the 1,820 counted in July 2023, and down 37, from the 1,825 counted in August 2022.

Preliminary production figures for July 2023 show an average daily production of 2 036 000 barrels of oil, NGL and condensate.

Oil tabs remain steady after the cross of the $80/bbl price mark,as the Stock 600 Energy Complex paring gains of +1.01% standing at 113.42 at the European Open.