Oil 12 (Feb 21 - Sep 23)

[behappyalways]

Oil Tumbles Near Pre-Invasion Lows As China Lockdowns Escalate
https://www.zerohedge.com/energy/oil-tu ... s-escalate

[winston]

Oil falls below US$97 as China's lockdowns imperil demand outlook

West Texas Intermediate futures slid as much as 6.2 per cent, falling below the key US$100 level on Monday (Apr 25).

Rising coronavirus cases in Beijing sparked jitters about an unprecedented lockdown of the capital, while Shanghai reported record daily deaths over the weekend.

Demand is down 1.2 million barrels a day since the lockdowns in Shanghai began, and a shutdown of the capital could impact demand even more so, he added.

Potential demand destruction from China lockdowns "is the number one issue in the market right now," said Bob Yawger, director of the futures division at Mizuho Securities USA.

China has implemented lockdowns in a number of cities as it pursues a Covid Zero strategy.

In Beijing, the government has expanded testing to 12 districts from Apr 26-30.

China, the world’s biggest importer of liquefied natural gas, is trying to sell some spare supply due to fears that demand-sapping virus lockdowns could spread from Shanghai to other parts of the country.

Source: OCBC

[winston]

How much is demand for oil dropping in China?

Bloomberg reported that China’s demand for gasoline, diesel and aviation fuel is expected to slip 20% year-over-year.

In other words, demand is expected to fall to approximately 1.2 million barrels a day.

Rystad energy: “Oil demand is set to shed 1.4 million barrels per day, dropping below the highs set in 2019, with a rebound unlikely until at 2023 …

Currently, Rystad expects that oil demand will average 99.6 million barrels per day in 2022. This compares to a pre-pandemic high of 100.2 million barrels per day in 2019.

Source: Investor Place

[behappyalways]

The World Is "Crying Out For Diesel"; Product Tankers Could Win Big
https://www.zerohedge.com/markets/world ... ld-win-big

[behappyalways]

The NOPEC Bill Could Send Oil Prices To $300
https://www.zerohedge.com/commodities/n ... prices-300

[winston]

by behappyalways:-

Biden Admin Considering Proposal To Tax Oil, Gas Windfall Profits

Source: Zero Hedge

https://www.zerohedge.com/political/bid ... ll-profits

[behappyalways]

Record UK Gasoline Prices See Biggest Daily Surge In 17 Years
https://www.zerohedge.com/energy/record ... e-17-years

[behappyalways]

22.06.07【豐富│東南西北龍鳳配】Pt.2 兩年前還是「殺人犯」，兩年後成了「模範生」？沙烏地自己都覺得害羞！
https://m.youtube.com/watch?v=iwojp9xyPp8

[behappyalways]

Biden Sends Threat-Letters To Big Oil: Help Ease "Putin Price Hike" Or Face Our Tools
https://www.zerohedge.com/commodities/b ... -our-tools

[behappyalways]

'Big Oil' Responds To Biden's Threats: Here's 10 Things You Can Do To Ease Gas Prices
https://www.zerohedge.com/energy/big-oi ... gas-prices