Daily Energy Report
afalhajji.substack.com
Daily Energy Report
Italy’s rising oil demand, US crude inventory, Russia sanctions & India, Global LNG demand rising, Europe carbon market fail, Henry Hub’s low gas price, China solar boom, and more.
Chart of the Day: Italy’s Oil Demand is Rising!
Summary
Italy’s oil demand increased by 8.1% in January yoy. It was also higher than oil demand in the previous five years for the same month fueled by stronger than expected economic growth in the fourth quarter of last year and the continuation into January with improvement in consumer confidence. Although oil demand in 2023 was in line with that of 2022, it was tamed by high inflation and higher interest rates.