Japan narrowly averted blackouts last winter as LNG demand and prices soared during a cold snap, and the situation this year may get even tighter. Read more at straitstimes.com.
Japanese refiners are dusting off unused supply chains for fuel oil and getting coastal vessels and storage tanks ready after receiving requests from electric utilities to supply more fuel oil this winter amid a global crunch for power generation fuels.
Japanese refiners are dusting off unused supply chains for fuel oil and getting coastal vessels and storage tanks ready after receiving requests from electric utilities to supply more fuel oil this winter amid a global crunch for power generation fuels.
As oil nears $100, India and Japan join U S in pressuring OPEC to act worldoil.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from worldoil.com Daily Mail and Mail on Sunday newspapers.
For the past year, oil-consuming countries have become increasingly anxious at crude’s resurgence: first to US$50 a barrel, then US$75 and now to more than US$85.
When Russian President Vladimir Putin, one of the leaders of the OPEC+ cartel, said that US$100 a barrel was a distinct possibility, the alarm bells really started ringing.
West Texas Intermediate crude for December delivery on Friday rose US$0.76 to US$83.57 a barrel, little changed from last week’s US$83.76 a barrel.
Brent crude for January delivery on Friday rose US$0.06 to US$83.72 a barrel, but fell 2 percent from last week’s US$85.53 a barrel.
Now, as quickening