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Economic woes lead to a lower price outlook from the U.S. EIA
The U.S. Energy Information Administration (EIA) released its May Short-Term Energy Outlook, revising its 2023 Brent crude oil forecast downward to $78.65 per barrel. Although demand for liquid fuels is expected to increase in 2023, OPEC+ oil production is expected to decline due to voluntary reductions.
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Economic woes lead to a lower price outlook from the U.S. EIA
The U.S. Energy Information Administration (EIA) released its May Short-Term Energy Outlook, revising its 2023 Brent crude oil forecast downward to $78.65 per barrel. Although demand for liquid fuels is expected to increase in 2023, OPEC+ oil production is expected to decline due to voluntary reductions.
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EIA’s oil production forecast
The EIA expects non-OPEC countries, such as the United States, Brazil and Canada, to experience an increase in oil production, while OPEC production will decline in 2023 before rebounding in 2024. This should result in relatively stable oil prices.
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EIA’s oil production forecast
The EIA expects non-OPEC countries, such as the United States, Brazil and Canada, to experience an increase in oil production, while OPEC production will decline in 2023 before rebounding in 2024. This should result in relatively stable oil prices.
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EIA error: U.S. crude oil inventories higher than expected
U.S. commercial crude oil inventories rose for the 10th time in 11 weeks, according to the EIA. This increase was due in part to an initial agency estimate error and a decline in demand for refined products such as diesel and propane.
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EIA error: U.S. crude oil inventories higher than expected
U.S. commercial crude oil inventories rose for the 10th time in 11 weeks, according to the EIA. This increase was due in part to an initial agency estimate error and a decline in demand for refined products such as diesel and propane.
RWE-Clean-Energy-2023-03-15T174125.867
Spain: Canadian Solar obtains favorable EIAs for six solar projects
Canadian Solar continues to expand in the Spanish solar market with the approval of six new PV projects totaling 685 MW. These six projects will be built in the regions of Andalusia and Castilla y León and should be operational by 2025.
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Spain: Canadian Solar obtains favorable EIAs for six solar projects
Canadian Solar continues to expand in the Spanish solar market with the approval of six new PV projects totaling 685 MW. These six projects will be built in the regions of Andalusia and Castilla y León and should be operational by 2025.
RWE-Clean-Energy-49
With the crisis, energy efficiency in the world is clearly progressing, according to the EIA
Energy efficiency around the world has increased under the pressure of soaring energy prices, the IEA says.
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With the crisis, energy efficiency in the world is clearly progressing, according to the EIA
Energy efficiency around the world has increased under the pressure of soaring energy prices, the IEA says.
IEA-AIE
Oil Prices Rise Following Biden’s Statement on Strikes in Iran
Oil prices significantly increase after a statement by U.S. President Joe Biden mentioning potential strikes against Iranian oil infrastructures, raising concerns about global supply.
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Oil Prices Rise Following Biden’s Statement on Strikes in Iran
Oil prices significantly increase after a statement by U.S. President Joe Biden mentioning potential strikes against Iranian oil infrastructures, raising concerns about global supply.
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US Oil Stocks Unexpectedly Rise as Refineries Slow Down
US crude oil reserves increased unexpectedly due to a significant slowdown in refinery activity, according to the US Energy Information Administration (EIA).
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US Oil Stocks Unexpectedly Rise as Refineries Slow Down
US crude oil reserves increased unexpectedly due to a significant slowdown in refinery activity, according to the US Energy Information Administration (EIA).
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U.S. Dockworkers Strike: Limited Impact on Coal Prices Despite Disruptions
The dockworkers' strike on the U.S. East and Gulf Coasts, which began on October 1st, has not significantly raised thermal coal prices, despite logistical disruptions. This situation is mainly due to an existing oversupply and weak global demand. Key importers, such as India, are reducing their dependence on U.S. coal in favor of cheaper domestic alternatives like petroleum coke. According to the latest assessment by S&P Global Commodity Insights, the existing oversupply continues to weigh heavily on U.S. coal prices, limiting the potential impact of the strike.
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U.S. Dockworkers Strike: Limited Impact on Coal Prices Despite Disruptions
The dockworkers' strike on the U.S. East and Gulf Coasts, which began on October 1st, has not significantly raised thermal coal prices, despite logistical disruptions. This situation is mainly due to an existing oversupply and weak global demand. Key importers, such as India, are reducing their dependence on U.S. coal in favor of cheaper domestic alternatives like petroleum coke. According to the latest assessment by S&P Global Commodity Insights, the existing oversupply continues to weigh heavily on U.S. coal prices, limiting the potential impact of the strike.
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Kamala Harris faces natural gas producers in Pennsylvania
Natural gas producers are urging Kamala Harris to clarify her position on LNG exports and industry regulation, while uncertainty persists over political decisions relating to hydraulic fracturing.
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Kamala Harris faces natural gas producers in Pennsylvania
Natural gas producers are urging Kamala Harris to clarify her position on LNG exports and industry regulation, while uncertainty persists over political decisions relating to hydraulic fracturing.
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United States: Nuclear power plants restart for the first time
For the first time in the USA, previously closed nuclear power plants are about to be recommissioned by energy companies, in an unprecedented move to meet the growing demand for electricity.
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United States: Nuclear power plants restart for the first time
For the first time in the USA, previously closed nuclear power plants are about to be recommissioned by energy companies, in an unprecedented move to meet the growing demand for electricity.
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