ENERGY

Authored by Tsvetana Paraskova via OilPrice.com,

• Europe’s natural gas prices have jumped by 40% over the past three months.

• The stronger pull of LNG to Asia has left Europe with fewer imports in the spring.

• The EU’s gas storage sites were 72.3% full as of June 11.

Europe’s natural gas prices have jumped by 40% over the past three months despite the EU exiting the winter heating season with a record-high level of gas still in (more…)

By Tsvetana Paraskova of OilPrice.com

Peak oil demand is not on the horizon, OPEC Secretary General Haitham Al Ghais said on Thursday, blasting the International Energy Agency’s prediction that global oil demand will peak before 2030.  

Some net-zero scenarios suggest that oil should not be part of a sustainable energy future, Al Ghais wrote in a column for EA Forum.

“This narrative was repeated only yesterday when the IEA published its Oil 2024 report in which it once (more…)

By Charles Kennedy of OilPrice.com

Oil demand growth is set to slow in the coming years and global demand will peak in 2029, while rising production will lead to a major glut this decade, the International Energy Agency (IEA) said in its new medium-term oil outlook on Wednesday.  

The clean energy transition and the “stellar growth” in global EV sales are expected to lead to slowing oil demand growth with worldwide consumption set to peak in 2029 and begin falling the (more…)