Harmony. Oil demand in all regions except Central and South America were at 5 year highs during Q2. Concerns about supply distribution in the Middle East are balanced by concerns about a future slow down in demand for oil. US production continued to grow. The result is a relatively stable oil price over the past quarter.
Big Dipper. UK and European gas prices hit their lowest levels in the past 6 years, as LNG from America and Africa dominate the market.
The Last Song. Venezuela Crude production drops below 1MMstb/d.
Electricity. In this issue of our renewables section, ERCE looks at what has changed in global electricity supplies from wind and solar, comparing 2017 to 2018.