Daily Energy Report
OPEC+ & China & India oil inventories, Spain LNG imports, Trump tariffs & gas contracts, Russia oil output, Shell spending, Petrobras reserves, North Sea projects blocked, and more.
January 30, 2024
Chart of the Day: How Will OPEC+ React to the Decline in China & India Oil Inventories
Summary
Figure (1) shows trends in total oil inventories in China and India. In both countries, inventories declined markedly in the last three months. Is this decline due to increased oil demand, suggesting a bullish outlook, or due to other factors, maintaining a "neutral" view? Details below.