In a week dominated by geopolitical headlines, oil diplomacy was also high on the agenda. Despite a schedule that included a high-profile summit in Hanoi, US President Donald Trump found time to tweet his view of crude prices to OPEC, ahead of a meeting between US and Saudi officials. OPEC’s next regular biannual meeting will take place June 25-26 in Vienna. Meanwhile the so-called NOPEC bill is starting its path through the US legislative process, even as the country’s energy secretary Rick Perry warned it threatened an oil price spike. IMO 2020 A shift to low sulfur marine fuel is imminent under new rules starting on January 1, 2020. S&P Global Platts editors discuss the implications across the shipping sector. GRAPHIC OF THE WEEK LNG trade flows in 2018 shifted from demand pull into Asia to supply push into Europe. In 2019 surging US supply is likely to accentuate that shift into Europe, due to a weaker JKM outlook, according to S&P Global Platts Analytics. LNG trade flows 2018 – click to enlarge LNG trade flow forecast 2019 – click to enlarge These visualizations were presented by S&P Global Platts during an LNG panel at the London Oil and Energy… continue reading
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Source: CTRM Center