Can the EU Survive Next Winter Without Russian LNG? And Has US Shale Production of “Real” Crude Oil Peaked?

What About Iraq’s Oil Exports from the North?

Recent Reports by the EOA:

The Impact of OPEC+ Voluntary Cuts on the Oil Market

Why Does OPEC Continue to Price its Oil in US Dollars?

Iraq’s Energy Sector: Twenty Years after the US Invasion

A World of Never-Ending Energy Crises

China’s LNG Demand Recovery: Drivers and Implications

MAIN TAKEAWAYS

1. Europe needs Russian LNG for the next winter season.

2. The recent increase in US crude oil production has been condensates and not crude oil,  yet the EIA continues to turn a blind eye to this fact.

3. Even if Erbil and Baghdad reached an agreement, it won’t be considered successful until tankers resume loading Iraqi crude oil at Turkey’s Ceyhan.

4. It remains to be seen from which oilfields (northern or southern fields) Iraq is going to reduce output as part of its 211,000 b/d voluntary cut.  

IN DETAIL

EU Seeks Legal Option to Stop Importing Russian LNG