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The Russian Ministry of Defense stated that if Ukraine attempts to disrupt Moscows Victory Day celebrations, Russia will launch a large-scale missile attack on downtown Kyiv.Israel has confirmed its first case of hantavirus; the patient had traveled to Eastern Europe. Unlike the Andean strain from South America currently drawing attention on the MV Hondius cruise ship, this Israeli patient was infected with the European strain.The Dutch Institute of Health: Three people in the Netherlands who have developed symptoms have been tested for Hantavirus. Two of them tested negative, while the results for the third are still being analyzed.A senior Iranian official said the United States cannot reopen the Strait of Hormuz with "unrealistic plans".On May 7, the General Staff of the Armed Forces of Ukraine posted on social media that since the early hours of the 7th, Ukrainian forces had launched attacks on several key Russian military facilities, including a warship. The General Staff stated that Ukrainian forces attacked a multi-purpose small missile ship at the Kaspisk military base in the Republic of Dagestan, Russia. This ship is capable of launching Kalibr cruise missiles. Ukrainian forces also struck several other targets, including a Russian command post in the Luhansk region, a drone command post in the Donetsk region, ammunition and fuel depots in the Luhansk region, and troop concentrations in the Zaporizhia and Donetsk regions. In addition, Ukrainian forces attacked an oil refinery in the Perm Krai of Russia, an attack more than 1,500 kilometers away.

OPEC's Demand Projection And China's COVID Cases Lower Oil Prices

Haiden Holmes

Nov 15, 2022 17:40

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OPEC lowered its global demand forecast for 2022, and rising COVID-19 cases in China cast doubt on the future of China's gasoline consumption, the largest crude importer in the world.


Brent crude futures fell 39 cents, or 0.4%, to $92.75 a barrel at 01:33 GMT on Tuesday, after falling 3% on Monday. The price of a barrel of U.S. West Texas Intermediate crude was $85.31, down 56 cents, or 0.7%, following a 3.5% decline in the prior session.


The Organization of Petroleum Exporting Countries (OPEC) has lowered its forecast for the growth of global oil demand in 2022 for the fifth time since April, citing escalating economic concerns such as high inflation and rising interest rates.


This follows the announcement by the International Monetary Fund on Sunday that the global economic outlook is gloomier than anticipated a month ago, citing a gradual deterioration in purchasing manager surveys over the past few months.


While investors applauded China's announcement last week that it will relax its strict zero-COVID policy in order to stimulate economic growth and energy demand, ANZ analysts stated that rising case numbers remain a significant risk.


"The market is currently defying looming supply threats," analysts added, referring to impending sanctions on Russian oil exports by the European Union.


In its monthly productivity report, the U.S. Energy Information Administration (EIA) stated on Monday that oil production in the Permian Basin is expected to reach a new high of 5.49 million barrels per day (bpd) in December.


However, aging shale regions are exhibiting decreased per-well performance, which according to the EIA resulted in only a 91,000 bpd increase in U.S. crude oil production in shale regions in December despite a price increase.

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