the U.S. sustained its position as the world’s leading oil producer, continuing a pace of 12.1 million barrels a day (mb/d), matching February 2019. In addition, petroleum demand in March was the strongest for that month in more than a decade at 20.7 mb/d.
Alparslan Bayraktar, deputy minister of energy and natural resources, stated that there is great potential for the natural gas market between Turkey and the U.S., in an address at the 37th Annual Conference on Turkey-U.S. Relations organized by the Turkey-U.S. Business Council (TAİK) and the American Turkish Council (ATC) in the U.S. capital Washington, D.C.
Australia's largest gas producer, Woodside, Thursday said LNG production from its three facilities rose 11% year on year in the January-March quarter, and maintained its 2019 production guidance.
The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.
the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January,
U.S. EIA - Primary energy consumption in the United States reached a record high of 101.3 quadrillion British thermal units (Btu) in 2018, up 4% from 2017 and 0.3% above the previous record set in 2007. The increase in 2018 was the largest increase in energy consumption, in both absolute and percentage terms, since 2010.
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 80,000 b/d month-over-month in April from 8,380 to 8,460 thousand barrels/day , gas production to increase 907 million cubic feet/day from 78,930 to 79,837 million cubic feet/day .
The rules governing the EU's internal gas market will in future also apply to pipelines to and from third countries. The Council today formally adopted an amendment to the so-called gas directive which aims at closing a legal gap in the EU's regulatory framework and boosting competition in the gas market. This is the final step in the legislative process.
Russian energy major Gazprom Neft expects the Arctic to account for more than half its oil and gas production by 2020,
Austrian power grid operator APG plans to invest Eur2.5 billion over the next 10 years to future-proof its network against a massive expansion of wind and solar, it said.
Total world demand for the year is now expected to reach 99.91 mb/d and exceed the 100.00 mb/d threshold during 2H19. OECD oil demand growth is projected to reach 0.21 mb/d, with OECD Americas leading the increase, while oil demand in the non-OECD region is projected to rise by around 1.0 mb/d, with Other Asia and China being the primary contributors to growth.
“Russia will not increase its output unless in coordination with the rest of OPEC and OPEC+ countries,” Mazroui said. “I believe in the wisdom of Russia, and I believe that Russia has benefited from this agreement... I don’t see any reason for Russia not to continue with us.”
Production by OPEC countries in March was 2.2 mb/d lower than in November and now there is uncertainty concerning Libya. Production by non-OPEC producers in 1Q19 was 0.7 mb/d lower than in 4Q18.
With this weakness expected to persist into the first half of 2019, our new World Economic Outlook (WEO) projects a slowdown in growth in 2019 for 70 percent of the world economy. Global growth softened to 3.6 percent in 2018 and is projected to decline further to 3.3 percent in 2019.
India is witnessing a listless growth in electricity demand, possibly signalling more slowdown in Asia’s third-largest economy.