February 2020

EIA now expects global petroleum and liquid fuels demand will rise by 1.0 million b/d in 2020, which is lower than the forecast increase in the January STEO of 1.3 million b/d in 2020, and by 1.5 million b/d in 2021.

We have cut our 2020 oil demand growth forecast by 365 kb/d to 825 kb/d, the lowest since 2011.

While Gazprom has said it’s looking at options to complete the pipeline, it hasn’t given any details on where it will find the ship to do the work. One of the pipeline’s financial backers, Austrian gas and oil company OMV AG, has predicted that the Russians will follow through.

Средняя цена на нефть Urals за период мониторинга с 15 января 2020 года по 14 февраля 2020 года составила $ 57,49804 за баррель, или $ 419,7 за тонну.

Crude oil production from the major US onshore regions is forecast to increase 18,000 b/d month-over-month in February from 9,157 to 9,175 thousand barrels/day, gas production to decrease 172 million cubic feet/day from 85,619 to 85,447 million cubic feet/day .

The US on Tuesday imposed sanctions on Rosneft Trading SA, the Geneva-based subsidiary of the Russian state oil company, for supporting Venezuela's oil sector by continuing to trade with sanctions-hit PDVSA

The sanctions announced by the U.S. Treasury Department against Rosneft’s subsidiary RTSA and its Chairman are illegal, unjustified, and an act of legal abuse.

The $50-billion award was originally made in 2014 by The Hague Permanent Court of Arbitration after a claim was brought by three former shareholders in Yukos – Veteran Petroleum, Yukos Universal Ltd, and Hulley Enterprises Ltd.

At the urging of China’s energy regulator, coal producers accelerated output resumption. About two-thirds of national capacity restarted as of Thursday.

Nigeria's GDP growth forecast for 2020 was revised down to 2 percent to reflect the impact of lower international oil prices. Inflation is expected to pick up, while deteriorating terms of trade and capital outflows will weaken the country’s external position.