Oil markets had their eyes trained on North African politics this week, and developments in Libya and Algeria in particular. Algerian President Abdelaziz Bouteflika’s resignation on April 2 threw the state’s long-delayed oil and gas reforms into doubt. Bouteflika had just a few days earlier appointed Algeria’s fourth energy minister in three years. In Libya, eastern military leader General Khalifa Haftar looked to be pushing for greater control over the country, adding to other supply-side concerns that have recently driven sentiment in crude oil markets. Further south in the continent, industry members gathered in Malabo, Equatorial Guinea, for the APPO Cape VII conference. At the event, OPEC’s secretary general said the group and its allies would not ease recent output cuts despite recent price increases. GRAPHIC OF THE WEEK The aging US coal fleet is being squeezed from all sides, with policy, cheap domestic gas supply and developments in clean energy generation all contributing to fast-paced closures. S&P Global Platts Analytics data show that since peaking at 317 GW at the end of 2011, US generating capacity with coal as the primary fuel fell by 73 GW, or 23%. PODCAST: BIG THEMES IN AMERICAS CRUDE AND PRODUCTS S&P Global Platts… continue reading
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Source: CTRM Center