Energy Update
BEIJING, Sept 9 (Reuters) - The International Energy Agency's new chief called on Wednesday for a "greater partnership" between his organization and China, the world's largest energy consumer, in his first official trip.
In the latest listing of the most important or interesting oil topics at the moment, we focus on crude oil prices, cargoes, trade flows and exports.
(Wed, 09 Sep 2015) In the first half of 2015, Saudi Arabia exported on average 4.4 million barrels per day (b/d) of crude oil to seven major trading partners in Asia, making up more than half of Saudi Arabia's total crude oil exports over that period. Even as global crude oil prices fell in 2014 and 2015, Saudi Arabia increased production and kept its export levels high, enabling it to maintain its market share in these countries.
(Wed, 09 Sep 2015) Crude oil prices declined through most of August before rising at the end of the month and in the first week of September. The North Sea Brent front month futures price rose $1.16 per barrel (b) since August 3 to settle at $50.68/b on September 3. The West Texas Intermediate (WTI) front month futures price increased $1.58/b over the same period to settle at $46.75/b.
TOKYO, Sept 9 (Reuters) - Liquefied natural gas (LNG) spot prices for buyers in Japan, the world's top consumer, averaged $8.10 per million British thermal units (mmBtu) in August, up 20 cents from the previous month, trade ministry data showed on Wednesday. The rise was largely in line with Asian spot prices, which were mostly higher last month than they were in July.
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