August 2024

Brent gained 97 cents, or 1.27%, to $77.27 a barrel, WTI climbed $1.14, or 1.56%, to $74.08.

The Joint Ministerial Monitoring Committee (JMMC) reviewed the crude oil production data for the months of May and June 2024 and noted the high overall conformity for participating OPEC and non-OPEC countries of the Declaration of Cooperation (DoC).

Ряд государств, входящих в ОПЕК+ (Россия, Саудовская Аравия, Алжир, Ирак, Кувейт, ОАЭ, Казахстан и Оман), которые ранее взяли на себя обязательства добровольного дополнительного сокращения добычи нефти на 2,2 млн баррелей в сутки, объявили о том, что после сентября 2024 года могут постепенно корректировать параметры сделки и наращивать добычу нефти в зависимости от рыночных условий.

However, this rapid transition has raised concerns about the stability and reliability of our energy systems. It's already becoming clear that the premature adoption of nascent technologies has led to:

The cessation of fossil fuel use would strand approximately $60 trillion of coal, oil and natural gas resources, depriving the owners of those resources of their profitable sale and depriving the nation of their beneficial use.

AI chatbots such as ChatGPT and Bard are known as voracious consumers of electricity and water. More precisely, it is the colossal data centers powering them that are to blame and there are no signs of slowing down.

The International Energy Agency (IEA) predicts that the US data center electricity consumption will rise from 200 TWh in 2022 to about 260 TWh by 2026 – roughly 6% of US electricity demand – while a study by the Boston Consulting Group (BCG) puts the number at 7.5% by 2030.

Sweden and the USA have signed a memorandum of understanding aimed at pursuing cooperation in industrial collaboration, technology development, and research and innovation in technologies related to nuclear energy for peaceful purposes.

BRENT Crude trading at the Globex Open on a $76.57/bbl & WTI Crude trading at $73.64/bbl. This is after the US DOE finalised its purchase of 4.65m/bbl of Crude Oil for SPR to be delivered from October to December.ExxonMobil to also supply 3.9m/bbl,Macquarie Commodities trading to supply the rest at an average pricing of $76.92/bbl.

Престижная площадка для руководителей предприятий нефтегазовой промышленности Турции и Черного моря.