WASHINGTON (Realist English). U.S. crude oil exports rose to a weekly record of 5.1 million barrels per day, reducing net crude oil imports to just over 1 million barrels per day, which is also a record. This is reported by the English-language publication Oilprice.com .
Earlier, oil prices fell after China, the largest importer of crude oil, expanded restrictions in the fight against COVID-19, Reuters reports.
On October 28, Brent crude futures fell 50 cents, or 0.5%, to $96.46 per barrel. And U.S. West Texas Intermediate (WTI) crude futures fell 78 cents, or 0.9%, to $88.30.
The International Monetary Fund expects China’s growth to slow to 3.2% in 2022, which is 1.2 points lower than the April forecast – after an 8.1% increase in 2021.
“It’s hard to make a case for a rebound in China’s crude purchases given the backdrop of uncertainty over its zero-COVID policy” said PVM Oil analyst Stephen Brennock.
Against the backdrop of the growing fuel crisis, the driving force behind investments in clean energy is energy security, not climate change, says Fatih Birol, Executive Director of the International Energy Agency. According to him, there is a “significant increase in investments in clean energy, by about 50%.”
“Today, it’s about $1.3 trillion, and it’s going to grow to about $2 trillion,” Birol said in an interview with CNBC.
Earlier, the EU agreed to ban the sale of new diesel and gasoline cars beginning 2035.
