Chinese LNG imports fell seasonally m/m in February to 2.37 Mt but remained higher by 0.52 Mt (28%) y/y. LNG demand may have benefitted from a brief cold spell in Eastern and Southern China in mid-February. Over the first two months of the year, Chinese LNG imports were up by a strong 1.49 Mt (35..
The outlook for summer gas has been see-sawing in the last couple of months, as the weather has pushed expected end-March storage from around 1.7 tcf at the start of the year to 2.3 tcf in February and now back down to around 2.0 tcf. A final sting in the tail of winter, with biting cold in the n..
Our recently enhanced Middle East & Africa Quarterly provides a comprehensive analysis of the region, examining key topics in depth and providing a detailed guide to regional supply, demand, trade flows and downstream capacity across the Middle East & Africa. Each quarter, focus pieces delve into..
Aggregate gas demand in Mexico slipped to 5.01 bcf/d in January, down by 0.36 bcf/d (7%) y/y and broadly on par with the 20-month low seen in December 2016. Gas demand was down y/y across all sectors except for industry, which has posted consecutive monthly y/y increases for nearly two years. Ind..
Japan imported 7.79 Mt of LNG in February, higher by 5% y/y, marking a second consecutive month of growth. The strong start to 2017 has seen Japanese LNG imports rise by 1.4 Mt (10%) over January and February. The increase came despite warmer-than-average temperatures in February, with HDDs lower..
Fundamentals is our monthly review of global oil data, this is the March 2017 edition. Despite all the doom and gloom in the market, 2017 balances have not deteriorated as such, and we still expect stockdraws of 0.7 mb/d across the year. However, Q1 17 expected stockdraws have moderated to 0.2 m..
China’s implied oil demand in January and February averaged 11.62 mb/d, higher y/y by a massive 0.60 mb/d (5.6%), alongside stellar crude import volumes and improving economic momentum. Actual demand (adjusted for stock changes and mixed aromatics imports) was likely lower, but still higher y/y b..
Extract from crude oil: Cushing stocks built by 1.4 mb w/w to 68 mb, higher by 1.7 mb y/y, driven by lower deliveries on the Osage pipeline (which delivers to the HFC El Dorado and NCRA McPherson refineries). Planned CDU work currently underway at El Dorado likely prompted HFC to store material..
Despite some warmer-than-normal temperatures, total Canadian gas demand averaged 11.9 bcf/d across February, which was 13% higher y/y thanks to last year’s very low base. Demand increased y/y across all three Canadian regions. Indicative pipeline data suggest that net exports to the US were again..
Current weather forecasts show the end of the heating season to be in sight. Temperatures in the lower-48 states are expected to be above normal by 24 March across the Midwest, Northeast, South Central and South Atlantic, paring national heating demand...
Norwegian gas production was lower by 0.34 bcm (3%) y/y and 1.25 bcm (5 mcm/d) m/m at 10.2 bcm in February according to the Norwegian Petroleum Directorate, as exports fell with milder weather and softer prompt prices. Aggregate Norwegian pipeline exports to Europe averaged just above 0.35 bcm/d..
In this Insight, we evaluate the Q4 16 reports of 16 of the main independent E&P companies in North America (see Figure 1 for full list) that were released last month. Last year, in the face of low prices, many producers focused on preserving balance sheet strength, by concentrating on improving..
Korean demand grew by 21 thousand y/y to 2.62 mb/d in February, reverting to the usual growth pattern after declining y/y in January for the first time since May 2015. But the stimulus to oil demand from low oil prices and government spending is waning. GDP growth slowed to 0.4% q/q in Q4 16, the..
This edition of the Canada oil data review debuts new supplementary data. Henceforth, this piece will contain additional production, refining, trade, maintenance, balances, and pricing data for Canada. These data augment the data review by providing a more comprehensive look at key metrics in Can..
Norwegian liquids production fell m/m by 26 thousand b/d to 2.01 mb/d in February, lower y/y by 53 thousand b/d. The 0.1 mb/d Goliat field experienced yet another technical issue on 8 February, which kept it offline for at least one week before output stabilised towards maximum levels at the end..