September 2021

Brent rose $1.20, or 1.7%, to $72.65, WTI was at $69.19, up $1.05 or 1.5%.

On Sept. 6, Gazprom said that pipelaying work on the project had been completed and commercial operations are expected to begin before the end of 2021. Nord Stream 2 includes two strings of 27.5 Bcm.

The MBIR is a 150 MWt, sodium-cooled fast reactor and will have a design life of up to 50 years.

We expect Brent prices will remain near current levels for the remainder of 2021, averaging $71/b during the fourth quarter of 2021 (4Q21). In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil consumption and contribute to Brent prices declining to an annual average of $66/b.

Nuclear generation capacity is expected to grow by 2.6% annually, reaching 615 GWe by 2040

China has unveiled a plan to expand its pumped-storage hydropower capacity to 62 GW in 2025 and 120 GW in 2030.

U.S. commercial crude oil inventories decreased by 1.5 million barrels from the previous week to 423.9 million barrels.

By 2035, the decarbonization scenarios show cumulative solar deployment of 760–1,000 GW, serving 37%–42% of electricity demand

The Spanish Secretariat of State for Energy has scheduled the new auction for 3.3 GW of renewables capacity for 19 October 2021.

Taiwan has a target to instal an additional 9 GW of offshore wind by 2031, and 15 GW by 2035.