According to Kepler, Russian fuel oil exports to China are projected to reach an all-time high of 350,000 barrels in May. This surge in demand is primarily driven by smaller Chinese refineries, which are increasing their fuel purchases for mixing purposes. The report highlights a remarkable increase in the volume of Russian fuel being delivered …
Record High Expected: Russian Fuel Exports to China Soar in May Read More »
Germany has cautioned the European Union (EU) against including China as a target of new sanctions on Russia in response to the ongoing Russian invasion of Ukraine. According to five diplomatic sources, Germany expressed its concerns during initial discussions on the proposed sanctions. The EU is currently deliberating its eleventh round of sanctions against Russia …
Germany Warns EU Against Targeting China in Sanctions Against Russia Read More »
India is poised to become Europe’s largest supplier of refined fuels, surpassing Russia, despite the EU ban on crude oil and refined fuels from Russia. Taking advantage of record low prices, India bought Russian crude and refined it into fuels such as diesel, which it then exported to Europe at higher prices. Europe benefits from …
India to Overthrow Russia as Europe’s Main Supplier of Refined Fuels Read More »
The European Union (EU) has criticized Poland and Hungary’s decision to impose a ban on grain and other food imports from Ukraine, stating that unilateral action on trade is not acceptable. Poland and Hungary announced the ban to protect their local agricultural sector, as large quantities of cheaper Ukrainian grain stayed in Central European states …
The European Union (EU) Purchasing Managers’ Index (PMI) rose to a 10-month high of 53.7 in March, according to S&P Global. The figure was up from February’s reading of 52.0, indicating expansion in the eurozone business sector for the third consecutive month. However, the figure was lower than the preliminary reading for March of 54.1. …
The Final EU Manufacturing-Services PMI for March Continued to Recover Read More »
On April 3, S&P Global reported that the European Union’s (EU) final manufacturing Purchasing Managers’ Index (PMI) fell in March. The final manufacturing PMI for March declined to 47.3 from February’s 48.5, albeit above the March preliminary figure of 47.1. Despite the slight improvement from the preliminary figure, the final manufacturing PMI for March was …
The Final EU Manufacturing PMI for March Fell, Indicating Contractions Read More »
The European Commission has announced a provisional agreement with the European Parliament and the Council to reform and strengthen the EU Energy Efficiency Directive, marking a significant step towards the completion of the ‘Fit for 55′ package. The package aims to deliver the European Green Deal and the REPowerEU Plan, demonstrating the EU’s determination to …
WASHINGTON D.C. – On Friday, President Joe Biden and European Commission President Ursula von der Leyen met at the White House to discuss the launch of talks on critical minerals used for electric vehicles. This comes amid trade frictions between the United States and the European Union. The meeting was held against the backdrop of …
Brussels – On March 10th, the Council of the European Union announced that EU negotiators and Council Presidents have reached a preliminary agreement to reduce final energy consumption in the European Union (EU) by 11.7% by the year 2030. According to a statement released by the Council, the EU’s highest levels of final energy consumption …
EU Reaches Preliminary Deal to Reduce Energy Consumption by 11.7% by 2030 Read More »
On Monday, the Federal Statistical Office reported that Germany’s consumer price index (CPI) had risen by 9.3% in February year on year after being adjusted for comparison with the rest of the European Union (EU). This confirms the preliminary information that was released earlier. The Federal Statistical Office noted that on a daily basis, Germany’s …
Germany’s CPI Rises 9.3% in February Year on Year Read More »