OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022. The data — to be presented to the group’s Joint Technical Committee on Tuesday — ought to reassure the Organization of Petroleum Exporting Countries and its partners that

The U.S. is holding its largest sale of oil from strategic reserves this year at a time when the outlook for fuel demand is darkening amid the resurgent Covid-19 virus. The Energy Department plans to auction off 20 million barrels of crude, twice as much as it offered for sale 3 1/2 months ago. The

Crude oil futures were lower during mid-morning Asian trade Aug. 16 as investor concerns over the fast-spreading delta variant resurfaced amid restrictive movement curbs in oil consuming giant China and growing number of cases in the US. At 10:51 am Singapore time (0251 GMT), the ICE October Brent futures contract was down 80 cents/b (1.13%)

A widespread increase in demand drove chemicals production up in the second quarter, with the global chemical operating rate climbing higher in June. The latest global data from the American Chemistry Council shows increased momentum in June, albeit with clear regional differences, adding weight to widespread management expectations of continued growth in the second half

Investors poured more money than ever into renewable energy in the first half of the year, but the pace is far from enough to sufficiently curb increasing carbon emissions. As much as $174 billion was spent on solar, offshore wind and other green technologies and companies in the period, according to data from BloombergNEF. While

Russia’s government has formed a carbon-capture-and-storage (CCS) initiative to produce blue hydrogen, the state announced late last week. The group includes the leaders of Gazprom, Novotek, Rosneft and Gazprom Neft as well as other heads of Russian NOCs and government bodies. It will be headed by Deputy Prime Minister Alexander Novak, who is Russia’s former

Oil reversed losses, resuming its recovery from a rout earlier in the week as sentiment firmed in wider markets. West Texas Intermediate crude rose 1.3 per cent, after dropping 1.1 per cent early Wednesday. European equities climbed a second day and U.S. index futures moved higher. Crude tumbled 7.3 per cent on Monday on concern

Crude oil prices augmented on Tuesday, July 13, amid market optimism over a recovery in demand from the elimination of COVID-19 pandemic-induced constraints in several developed countries. International benchmark Brent crude was selling at USD75.44 per barrel at 0720 GMT for a 0.37 percent upsurge after closing on Monday, July 12 at USD75.16 a barrel.

China’s rubber accelerators are mainly exported to Asia, accounting for about 58.4%. Followed by Europe, accounting for about 18.5%. In Asia, Southeast Asian countries have a larger demand, accounting for 26.4%, followed by South Asia, accounting for 12.4%. Among them, the large demand for accelerators in Southeast Asian countries is closely related to the new

The international tin Association (ITA) said on Tuesday that with the rising demand for electronic equipment, the tin supply gap is expected to expand in the next few years and drive the green revolution. At the same time, tin investment has been lagging behind. Tin prices topped $30000 a ton last month, the first in