angleecrouchingtigerhiddendragon| Azerbaijan exports 7.9 million tons of oil, and China transports more than 500 billion cubic meters of natural gas: Global energy market dynamics

Newsletter summary

Text of news flash

[Azerbaijani Ministry of Energy announcedAngleecrouchingtigerhiddendragonOil exports reached 7.9 million tons in the first four months of 2023. The cumulative delivery of natural gas at the first Horgos pressure station in China exceeded 500 billion cubic meters, further enhanced.AngleecrouchingtigerhiddendragonThe supply capacity of the energy market. In India, palm oil imports increased by 40% in April compared with the previous month.Angleecrouchingtigerhiddendragon.9%, indicating that demand is picking up steadily. Malaysia's prime minister has made it clear that there is no evidence of ship-to-ship transfers of sanctioned Iranian oil in the country's waters. In addition, Goldman Sachs is cautious about the future of the OPEC + production reduction agreement, with a 53 per cent chance of extending production cuts and a 37 per cent chance of increasing production. Although Kazakhstan's energy ministry denied Russian media reports that the country had applied to OPEC + to increase oil production in 2025, the incident attracted market attention. In other areas, the Australian Meteorological Office predicts signs of La Nina later in 2024. Deutsche Bank downgraded its outlook for platinum group metals, predicting a small deficit in the palladium market in 2023 and a risk of turning into a surplus in 2025. The outlook for platinum is relatively optimistic, with modest deficits expected in 2024 and 2025.