1. Container logistics issues continue to bite, worldwide What’s happening? The cost of container shipping has soared over the past year and is hovering at all-time-high levels. Container rates from North Asia to North Continent are eight-and-a-half times higher than a year ago, at $17,000/FEU compared to the $2,000/FEU seen a year ago. This comes .
The plan by OPEC+ to boost crude oil production by 400,000 b/d each month until December won’t be enough to cater to rising global oil demand and help build inventories, particularly in Asia, where more supply will be needed in the fourth quarter, the head of Vitol Asia said Oct. 3. “This tale end of .