European oil and gas supply to meet multiple challenges

The Russian-Ukrainian conflict and Western sanctions have led to energy shortages in Europe, and European countries led by Germany are doing their best to ensure energy security

European gas prices hit record high

On August 19, Gazprom announced that the only turbine still in operation in the "Nord Stream-1" natural gas pipeline will be shut down for maintenance for three days from August 31, during which time the "North Stream-1" The piping will stop supplying air

According to British media calculations, the current TTF price has risen to more than 14 times the average of the past 10 years

The starting point of this round of European natural gas price hikes is that Gazprom restricted the flow of the "Beixi-1" pipeline in July, which is currently limited to 20% of the daily capacity of nearly 170 million cubic meters

In addition, the market is focusing on turbine overhauls involving Germany, Russia and Canada

Kazakh oil exports hit again

While Europe is struggling with gas shortages, there is also negative news in the oil market

It is not the first time that CPC pipes have been damaged

According to the analysis of some financial media, the reduction in the volume of the CPC pipeline has also boosted the price of TTF futures

OPEC+ plans to cut production and raise prices

In addition to the CPC pipeline issue, the news that OPEC+ is trying to cut production has made the once-downward international oil price rise again

In its latest August report, OPEC has made it clear that it expects a glut in the global crude market this quarter, with output rising in some crude exporting rivals in addition to an expected drop in demand

However, OPEC ignored the IEA's comments