Daily Energy Report

India oil inventories, US is the largest LNG exporter, OPEC output rises, New Mexican president plans shakeup, Norway gas scare, world renewable target missed, China’s huge solar project, and more.

Chart of the Day: India’s Oil Inventories are Rising

Summary

India’s oil inventories have been rising in recent weeks as imports from Russia increased. Figure (1) above shows India’s weekly oil inventories since the beginning of 2022. While inventories are NOT at record high, they are at their highest since early October 2021.

EOA’s Main Takeaways