LNG: Kuwait Looks to Boost Non-Associated Gas Output: MEES

May-23 14:38

Kuwait is targeting  2 bcf/d of non-associated natural gas production by 2040 as it seeks to limit its LNG imports, MEES said.

  • Non-associated gas currently stands at around 700 mmcf/d, around a third of the country’s total gas capacity of 2 bcf/d.
  • In the meantime, Kuwait is set to rely on continued LNG imports to meet power demand, particularly during peak summer months.

Historical bullets

BONDS: Off Pullback Lows As Crude Softens, U.S. Tariff Reduction Quesitoned

Apr-23 14:31

Core global FI markets are off pullback lows, while equities are off session highs, with a couple of factors at play:

  • Suggestions that the previously touted potential reductions in U.S. tariffs on China would not be unilateral and would form part of the U.S. negotiation plans with China. Multiple newswire sources also indicated that there is no evidence that China and the U.S. are currently engaging in such negotiations.
  • A fresh move lower in crude oil prices after RTRS sources suggested that several OPEC+ members want the group to approve another accelerated oil output increase at their May 5 meeting.

GILT AUCTION PREVIEW: On offer next week

Apr-23 14:31

The DMO has announced it will be looking to sell GBP4.5bln of the 4.375% Mar-28 Gilt (ISIN: GB00BSQNRC93) at its auction next Wednesday, April 30.

MNI: US EIA: CRUDE OIL STOCKS EX SPR +0.24M TO 443.1M APR 18 WK

Apr-23 14:30
  • US EIA: CRUDE OIL STOCKS EX SPR +0.24M TO 443.1M APR 18 WK
  • US EIA: DISTILLATE STOCKS -2.35M TO 106.9M IN APR 18 WK
  • US EIA: GASOLINE STOCKS -4.48M TO 229.5M IN APR 18 WK
  • US EIA: CUSHING STOCKS -0.09M TO 25.0M BARRELS IN APR 18 WK
  • US EIA: SPR +0.47M TO 397.5M BARRELS IN APR 18 WK
  • US EIA: REFINERY UTILIZATION WEEK CHANGE +1.8% TO 88.1% IN APR 18 WK