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China’s zero-COVID policy weighs down on the country’s oil demand prospects, while third-party certification of natural gas production gains momentum in the US. Europe’s polymer imports from Russia amid the war in Ukraine and Indonesia’s palm oil exports are also in focus. 1. China’s Q2 oil demand to fall by 7
China’s lofty ambitions to hit peak carbon emission by 2030 and achieve carbon neutrality by 2060 have pushed major Chinese steelmakers to chart a greener route to production as they increasingly become interested in developing direct reduced iron, or DRI, plants using hydrogen and natural gas
Oil and refined products trends are in the sights of S&P Global Commodity Insights editors this week. We consider the impact of US jet fuel and diesel price hikes, as well as trans-Atlantic freight costs, oil demand in North Africa, and more. 1. Surging US jet fuel prices drive historic rise in airfares What’s happening? The most recent US consumer price index report showed a rise of 8.2% from a year ago across all items, but airfares were up 33.3%, and increased 18
