Other news

Gas supplies produced in the Appalachian basin decreased by 27% (which is 9 billion cubic feet) compared with the usual levels. This was reported by BloombergNEF. It is also noted that such reductions in production have not been observed since 2013.

Russia is to ban the supply of its crude to a range of European countries which agreed to the price cap on Russian oil.

Shale oil and gas production in Argentina’s Vaca Muerta has increased sharply over the past years. However, its growth may decelerate now as oil and gas pipelines near capacity.

According to Reuters, Kazakhstan has begun the implementation of its plan to supply oil to Germany through the Druzhba pipeline. For this purpose, the country sent a request to the pipeline operator, Russian oil company Transneft.

Deputy director general at the National Energy Security Fund (NESF) Alexey Grivach said that recently discovered Turkish gas fields in Turkey are small.

Canada provided 103 rigs over the past week, according to data from Baker Hughes.

Tuesday was marked by gas futures’ strengthening in the USA. The reason for that is a decrease in gas production due to unfavourable weather conditions. Thus, due to the effects of the winter storm, the forecast of warming and lower demand in December is not that relevant now.

The Japanese government creates conditions for importers to accumulate fuel reserves to avoid a deficit in the future.

U.S. oil refineries are likely to resume operations by January 2023.

Economists at Danske Bank said that Brent crude oil would settle lower the following year. Oil prices may slide to $80 in the fourth quarter.