Commodities

The Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for world oil demand growth in 2024 and also trimmed its expectation for 2025 marking the cartel’s second consecutive downward revision, mainly due to lower than previously expected oil demand growth from China, the world’s largest oil importer, and the US. OPEC in its latest Monthly Oil Market Report (MOMR) said global oil

China’s refined copper exports more than doubled to 157,751 tons in June from May, as weak domestic demand  prompted smelters to turn to overseas markets, data released by the customs authority revealed on Sunday (July 21). The figures follow data last week that showed record-high exports of unwrought Copper and Copper products for the second month in a row in June. “Chinese

Platts, part of S&P Global Commodity Insights, has launched the world’s first independent daily, spot market solar photovoltaic (PV) panel price assessments for US, Europe and Asia. In addition to six individual Platts Solar Module prices, Platts will also publish the Platts Global Solar Module Marker, which is a daily average of the six individual assessments, and which will provide a global

Energy giant BP predicts a potential peak in worldwide oil demand as early as next year, a development that could bring an end to rising global carbon emissions by the mid-2020s amid  a surge in renewables. The company’s latest annual Energy Outlook report has found that oil use will increase by about 2m barrels a day to peak at about 102m in

More than eight in ten (81%) of respondents to a central bank survey have indicated that they expect reserve managers will continue to increase their gold holdings in the next 12 months, according to new data released by the World Gold Council. This is the highest ever recorded since our 2019 annual survey. The 2024 Central Banks Gold Reserves (CBGR) survey, which

Despite Western sanctions Russian crude oil exports remain resilient, having risen from 3.35 million bpd in 2022 to 3.5 million in the first quarter of 2023, according to commodities tracking firm Kpler. From Dec. 5, 2022 an EU embargo on seaborne imports of most Russian crude oil and a $60/b price cap agreed by the G7 and Australia came into force. Moscow

The Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report on Thursday (April 13) that both the 2023 and 2022 world oil demand growth projections remained unchanged at 2.3 million barrels per day (bpd) and 2.5 million bpd respectively. “There are minor downward adjustments reflecting the latest developments in the OECD region, primarily in OECD Americas and OECD Europe.