. Oil demand could surge by 1.9 million barrels per day to reach a record 101.7 million barrels per day, the International Energy Agency said in its latest monthly report, released Wednesday. “China will drive nearly half this global demand growth even as the shape and speed of its reopening remains uncertain,” the IEA said.
7% on Wednesday to hit $87 a barrel. Where prices could go next is unclear. The IEA said there was a “high degree of uncertainty” over its outlook. Despite an expected drop in supply from Russia, global oil inventories are at their highest levels since October 2021. A boom in demand for electric vehicles and countries’ efforts to become more energy efficient could also help temper demand, the agency said. “Measures like these are especially vital in a supply-constrained oil market,” it added.
Russia is going to make millons selling oil to China
Might b time to do some drillin. Just sayin.
We had a chance, right at the beginning of the pandemic, to finally get off fossil fuels on a global scale. We blew it.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China records first population decline in 60 years | CNN BusinessChina's population shrank in 2022 for the first time in more than 60 years, a new milestone in the country's deepening demographic crisis with significant implications for its slowing economy. One child policy that forces families to relinquish their daughters...who saw this coming? Suppose China had 800,000 deaths from covid last year? Covid deaths have any bearing on the population decline in China.
Source: cnni - 🏆 326. / 59 Read more »
China posts one of its worst economic performances in decades because of Covid | CNN BusinessChina's economy expanded by just 3% in 2022, far below the government's own target, marking one of the worst performances in nearly half a century. Growth was impacted heavily by months of widespread Covid lockdowns and a historic downturn in the property market. But better that your expected. :V Don't worry they'll be fine once Biden sends over more of our fuel and money Compared to US and Europe which are at 0% or minus
Source: cnni - 🏆 326. / 59 Read more »
Bitcoin rallies 25% as crypto markets rebound | CNN BusinessAfter getting pummeled by losses for the better part of last year, bitcoin and other cryptocurrencies are rallying in 2023 -- prompting speculation that the so-called crypto winter is over. The Gold Rush, 1925 Still a scam. Seems like people did not learn that they ex hange real money for fake coins ...
Source: CNN - 🏆 4. / 95 Read more »
The steep plunge in used car prices -- what it means, and what's ahead | CNN BusinessTracking used car prices is enough to give anyone whiplash. You mean the return to former prices? The demand isn’t there If like ne it's too expensive to. Buy new or used. So keep driving my old 2003 Ram. Not going to get sucked into a $800 to $1000 car payment. Which is what you are looking at unless you stretch the terms which is dumb
Source: CNN - 🏆 4. / 95 Read more »