Daily Energy Report
Oil inventories rising, OPEC’s forecast, Container shipping bust, China re-selling LNG, PetroChina in Iraq, Renewable glut, China’s copper dominance, More LNG carriers needed, and more.
Chart of the Day: Global Oil Inventories are Rising
Summary
Figure (1) shows the trends in weekly oil inventories in 2023. The data is the same in Panels A and B. Panel A is intended to show the trends in more detail while panel B is intended to put these trends in perspective to avoid hyping a trend. The charts show that global inventories increased in recent weeks.