China’s oil demand fell by 1.3% in April

Oil demand in China fell by 1.3% in April compared to a year earlier. It accounted for 11.3 million barrels per day (b/d), according to new figures released by S&P Global Platts. Oil demand registered its third consecutive month of negative growth due to a decline in gasoil and fuel oil use amid a slowed Chinese economy. The […]

OPEC pumped 32.52m barrels per day in April

OPEC countries’ oil production reached 32.52 million barrels per day (mb/d) in April. That’s 140,000b/d higher compared to March, new data released by S&P Global Platts revealed. The increase was due to Iran and Iraq’s production which rose by 150,000b/d each after OPEC and non-OPEC producers failed to agree on a proposal to freeze output, […]

OPEC pumped 32.38m barrels of oil per day in March

Oil production increased by 40,000 barrels per day (b/d) in March. Total production reached 32.38 million b/d, new figures from Platts revealed. The rise in oil production was driven by sanction-free Iran which said it is targeting production of four million b/d in the new Iranian year. The demand for crude from this country has […]

US gas production set a record high in February

Natural gas production of 48 US states averaged 73.3 billion cubic feet per day (Bcf/d) in February. That’s the highest production on record since 2005 , according to figures released by Platts Bentek. Production last month was almost 1.4Bcf/d more compared to January, it added. Gas generation in the north east was nearly 23.1Bcf/d in […]

OPEC pumps 31.26m barrels of oil per day in August

Oil production from the Organisation of the Petroleum Exporting Countries (OPEC) was 31.26 million barrels per day (b/d) in August. New figures from Platts revealed production dropped 140,000 barrels compared to July as “several countries, including Saudi Arabia, trimmed output”. August was the first monthly fall in OPEC output since February, the report added. Saudi […]

World’s first nuclear output rise since Fukushima

Global nuclear output rose for first time since Japan’s Fukushima accident in 2014. That’s according to new report, which showed world nuclear generation in 2014 rose 1% compared to 2013. That’s the first annual gain since the 2011 accident. The disaster curbed global nuclear output sharply, according to the report. William Freebairn, Platts senior managing […]

The wind keeps getting stronger

Wind generation is picking up thanks to the efforts of the UK and Germany. According to new research by analysts at Platts, wind output in the UK had its most productive month ever. In December 2014, wind generated around 14% of the UK’s electricity. Power on the other hand had a year-on-year decline by 17%. […]

China oil demand shoots up

China’s apparent oil demand rose by 5.3% year on year, to 44.96 million metric tonnes (Mt) according to new data. The figures from Platts, show the highest absolute demand on record, since they first started tracking China’s oil demand in 2005. In 2014 demand rose by 3% to an average of 10.1 million barrels/day (b/d), […]

China’s oil needs hit “second highest level since 2005”

Chinese demand for oil in September shot to the second-highest level since 2005, estimate Platts analysts. Apparent oil demand in September rose to 42.34 million metric tons (mt), or an average 10.35 million barrels per day (b/d). That’s a jump of 7.4% from the same month a year ago, suggests the analysis of Chinese government data. […]

OPEC oil price slumps below $82 a barrel

The price of oil from the Organisation of Petroleum Exporting Countries (OPEC) slumped to below $82 per barrel yesterday. The predominantly Middle Eastern oil group’s benchmark price was $81.89 yesterday. It’s a four-year low for the basket price which was last this level in late 2010. OPEC oil prices still have a fair way to […]