RE:RE:RE:RE:What a dull boring summerThe problem is Asia is taking a lot of lng and that could start to hurt oil demand.
Things that can't be electrified easily like shipping and trucking their using lng as fuel instead of bunker oil or diesel. China especially.
China is electrifying cars and light duty and lng the stuff they can't battery.
I wouldn't be celebrating lots of lng going to China as expectations are so high for China oil demand and let's see it happen as I wouldn't bet on it.
real estate is bad in China still so they are pumping so much cash into becoming more energy self sufficient. Too early to judge the results as lots of China large wind and solar were built before grid connections are available. They speed build in China ahead of power grid capacity but one China moves will start to impact commodities. I think opec wanted to bring production back on in June but they can't.
weak operators are going to struggle this summer, aeco is in tough until cold comes. USA and Europe are really full of ng right now