Global Week

The IEA warned that the recovery in oil market demand was weakening

According to the Wall Street Journal on October 16, IEA said in its monthly oil market report that the decline in oil inventories will likely abate in the coming months due to a dramatic increase in novel Coronavirus cases in several countries and the possible reintroduction of restrictions.

Gazprom has discovered new gas reserves in the Kara Sea

The Russian gas company Gazprom has discovered a new gas deposit in the Kara Sea, the centre of Yamal's gas production, OE said on October 12.

The reservoir currently has an estimated 1.9 trillion cubic metres of recoverable gas reserves.

Us oil production has picked up faster than expected

According to Dow Jones on October 13, Opec says the U.S. energy industry is recovering faster than previously expected from the hit from the Novel Coronavirus pandemic.

Total restarted a small refinery at its Port Arthur refinery in Texas

Total Restarted a small crude distillation unit capable of producing 225,500 b/d at its Port Arthur refinery in Texas On Oct. 15, according to the Trade news. The device was shut down on October 8 before Hurricane Delta approached the Gulf of Mexico.

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