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"We've certainly seen Australia's reputation being affected as some existing buyers expressed interest in diversifying their suppliers for long-term supply," said Ryhana Rasidi, LNG analyst at analytics firm Kpler. "Australia is the closest gas supplier we can get. By far, Australia, U.S. and Qatar are the three pillars in LNG supply chain. As well as its political stability, its proximity to Asia might be Australia's saving grace, industry analysts say. "Ties are very strong between North Asia and Australia as a legacy supplier, so many participants are keen to continue the relationship," said Kaushal Ramesh, LNG analyst at Rystad Energy.

Persons: Inpex, Resources Madeleine King, We've, Ryhana, Jane Liao, Kaushal Ramesh, Emily Chow, Yuka Obayashi, Muyu Xu, Andrew Hayley, Joyce Lee, Lewis Jackson, Florence Tan Organizations: Reuters, Chevron, Handout, REUTERS, Rights, Workers, Japan's Kyushu Electric Power, Chevron's, Woodside Energy, West Shelf, South, Resources, Taiwan, Tohoku Electric Power, Kyushu Electric Power, Osaka Gas, Rystad Energy, Thomson Locations: Chevron, Barrow Island, Australia, Rights SINGAPORE, TOKYO, Qatar, United States, Western Australia, China, Japan, South Korea, Taiwan, Ukraine, Oman, U.S, Asia, Singapore, Tokyo, Beijing, Seoul, Sydney

☆ New Mexico mayor calls for legislative debate after gun ban
▼ + stars: | 2023-09-13 | by ( Andrew Hay | ) www.reuters.com time to read: +2 min

FILE PHOTO: Governor of New Mexico Michelle Lujan Grisham speaks at a Democratic Party of New Mexico campaign rally featuring U.S. President Joe Biden at the Gallegos Community Center in Albuquerque, New Mexico, U.S., November 3, 2022. REUTERS/Kevin Lamarque/File Photo(Reuters) - Albuquerque’s mayor is urging New Mexico Governor Michelle Lujan Grisham to call a special state legislative session on gun crime after the governor’s ban on carrying guns in his city threw it into the center of the U.S. gun-rights debate. “Albuquerque families can’t afford political debates that distract us from fighting violent crime,” Keller wrote. Gun violence kills around 500 people a year in New Mexico, which ranks sixth among U.S. states for gun deaths per capita, according to gun violence prevention group Everytown for Gun Safety. Albuquerque is among the 10 most dangerous U.S. cities, based on FBI violent crime data.

Persons: New Mexico Michelle Lujan Grisham, Joe Biden, Kevin Lamarque, Michelle Lujan Grisham, Lujan Grisham, Tim Keller, ” Keller, Froylan Villegas, Tatiana Villegas, Samaniego, Lujan Grisham’s Organizations: Democratic Party of New, U.S, Gallegos Community Center, REUTERS, New, Reuters, Albuquerque, Gun Safety Locations: New Mexico, Democratic Party of New Mexico, Albuquerque , New Mexico, U.S, New Mexico’s, Albuquerque

☆ US judge freezes New Mexico governor's gun ban
▼ + stars: | 2023-09-13 | by ( Andrew Hay | ) www.reuters.com time to read: +3 min

Governor of New Mexico Michelle Lujan Grisham speaks at a Democratic Party of New Mexico campaign rally featuring U.S. President Joe Biden at the Gallegos Community Center in Albuquerque, New Mexico, U.S., November 3, 2022. Her order outraged gun-rights advocates and drew backlash from fellow Democrats and law enforcement officials who labeled it unconstitutional. "Governor Grisham's tyranny is temporarily in check today," said Dudley Brown, president of a Colorado gun group that sued the governor. In the days after the gun ban, Albuquerque's mayor and Bernalillo County's sheriff both called for a special session of the state's legislature to deal with gun crime. Around 500 people die by guns each year in New Mexico, which ranks sixth among U.S. states for gun deaths per capita, according to gun violence prevention group Everytown for Gun Safety.

Persons: New Mexico Michelle Lujan Grisham, Joe Biden, Kevin Lamarque, Michelle Lujan Grisham, David Urias, Urias, Lujan Grisham's, I've, Lujan Grisham, Grisham's, Dudley Brown, Gun, Bernalillo, Tim Keller, Keller, Andrew Hay, Nate Raymond, Jarrett Renshaw, Stephen Coates, Diane Craft Organizations: Democratic Party of New, U.S, Gallegos Community Center, REUTERS, Supreme, Democratic, Santa Fe's, Gun Safety, Thomson Locations: New Mexico, Democratic Party of New Mexico, Albuquerque , New Mexico, U.S, Mexico's, Albuquerque, Colorado, Santa

Reuters GraphicsReuters spoke to four shareholders that have launched activist campaigns who said that some big consumer goods companies are ripe for executive changes after failing to impress. Reuters GraphicsMany large consumer goods companies generally hold low levels of debt and are cash generative, said André Medeiros, managing director and Alvarez & Marsal's EMEA consumer and retail leader. 'ADVOCATING FOR MANAGEMENT CHANGE'Gianluca Ferrari, founding partner of investor Clearway Capital, said his firm had some consumer companies on its radar but declined to name them. He did not identify specific executives nor disclose the nature of his work with consumer companies. In October, Reuters reported that Peltz had approached former CEOs of consumer goods companies as candidates for the Unilever top job.

Persons: Danone's, Emmanuel Faber, David Samra, Samra, Alvarez, Marsal, André Medeiros, Nelson Peltz, Artisan's Samra, We're, Peltz, Heinz, Gianluca Ferrari, Ferrari, Clearway, Glanbia, Faber, Bluebell, Nicolas Ceron, Ceron, underperformance, Kraft Heinz, KHC.O, Andrew Hayes, Russell Reynolds, John Long, Korn, Long, Alan Jope departure's, Unilever's, Graeme Pitkethly, Hein Schumacher, Heinz's, Bill Johnson, Nelson, Richa Naidu, Matt Scuffham, Daniel Flynn Organizations: Artisan Partners, Reuters, Danone, Evian, Unilever, Consumer Products, Reuters Graphics Reuters, Reuters Graphics, Marsal's EMEA, Billionaire, Artisan, Cadbury Schweppes, Heinz, Trian, Bluebell Capital, shareholders, Bluebell, Diageo, Russell Reynolds Associates, Thomson Locations: York, H.J, Frankfurt, Western Europe, North America

☆ New Mexico sheriff refuses to enforce governor's gun ban
▼ + stars: | 2023-09-11 | by ( Andrew Hay | ) www.reuters.com time to read: +2 min

[1/2] Governor of New Mexico Michelle Lujan Grisham speaks at a Democratic Party of New Mexico campaign rally featuring U.S. President Joe Biden at the Gallegos Community Center in Albuquerque, New Mexico, U.S., November 3, 2022. Bernalillo County Sheriff John Allen said he did not want to endanger his deputies by making them enforce the ban. "This order will not do anything to curb gun violence other than punish law-abiding citizens who have a constitutional right to self defense," Allen said at a press briefing. Lujan Grisham last week declared gun violence a public health emergency after an 11-year-old boy was shot dead in Albuquerque, apparently in an act of road rage. New Mexico State Police has not issued any citations, spokesman Ray Wilson said.

Persons: New Mexico Michelle Lujan Grisham, Joe Biden, Kevin Lamarque, Michelle Lujan Grisham's, Lujan Grisham, Bernalillo County Sheriff John Allen, Allen, Ted Lieu, Albuquerque, Harold Medina, Ray Wilson, Andrew Hay, Lincoln Organizations: Democratic Party of New, U.S, Gallegos Community Center, REUTERS, New, Bernalillo County Sheriff, Constitution, New Mexico State Police, Thomson Locations: New Mexico, Democratic Party of New Mexico, Albuquerque , New Mexico, U.S, Albuquerque, Bernalillo, United States, Bernalillo County, Ted Lieu of California, Colorado

[1/2] Venezuela's President Nicolas Maduro gestures during a meeting with Chile's Ambassador to Venezuela Jaime Gazmuri, at Miraflores Palace, in Caracas, Venezuela August 16, 2023. Energy trade, debt repayment and new financing likely are the main focus of the Sept. 8-14 visit, officials and sources said. Beijing's decision to host Maduro coincides with a G20 summit in New Delhi this weekend, which Chinese President Xi Jinping will not attend. In 2020, the Maduro administration and Chinese banks again agreed to a grace period on some $19 billion of Chinese debt, according to Reuters reporting. Despite sanctions on Venezuela, China imported around 390,000 barrels per day of crude from the country between January and August this year, totalling roughly 12.9 million metric tons, data from commodities consultancy Vortexa showed.

Persons: Nicolas Maduro, Venezuela Jaime Gazmuri, Leonardo Fernandez Viloria, Han Zheng, Wang Yi, hegemonism, Han, Pedro Tellechea, Tellechea, Xi Jinping, Maduro, Hugo Chavez's, Joe Biden's, PDVSA, CNPC, Donald Trump, Andrew Hayley, Liz Lee, Joe Cash, Vivian Seuqera, Mayela, Marianna Parraga, Christopher Cushing, Frances Kerry, Marguerita Choy Organizations: REUTERS, Rights, West, Energy, China National Petroleum Corp, Venezuelan, Venezuelan Oil, Shanghai International Energy Exchange, Shanghai Petroleum, Natural Gas Exchange, South, Shanghai, Mayela Armas, Thomson Locations: Venezuela, Miraflores, Caracas, Rights BEIJING, CARACAS, China, OPEC, Beijing, Shanghai, Asia, New Delhi, Malaysia, South American, Houston

[1/2] Venezuela's President Nicolas Maduro gestures during a meeting with Chile's Ambassador to Venezuela Jaime Gazmuri, at Miraflores Palace, in Caracas, Venezuela August 16, 2023. REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsBEIJING, Sept 8 (Reuters) - Venezuela's President Nicolas Maduro will visit China over Sept. 8-14, China's foreign ministry said on Friday, marking renewed engagement between the two countries amid deepening tensions between Beijing and Western capitals. The visit coincides with the G20 summit in New Delhi this weekend, which China's president Xi Jinping will not attend. China is the world's largest importers of crude oil, while Venezuela has the largest proven reserves. The company stopped carrying Venezuelan oil in August 2019 after the Trump administration tightened sanctions against the South American exporter.

Persons: Nicolas Maduro, Venezuela Jaime Gazmuri, Leonardo Fernandez Viloria, Wang Yi, Delcy Rodriguez, Xi Jinping, Maduro, Xi, Trump, Hugo Chavez, Andrew Hayley, Liz Lee, Christopher Cushing Organizations: REUTERS, Rights, Venezuelan, UN, Energy, South, Thomson Locations: Venezuela, Miraflores, Caracas, Rights BEIJING, China, Beijing, Shanghai, New Delhi, Kpler, Malaysia, South American

REUTERS/Dado Ruvic/Illustration/Files Acquire Licensing RightsSummary Crude imports jump 30.9% from last year to 12.43 million bpdNatural gas imports up 22.7% from last yearRefined fuel exports rise month-on-monthBEIJING, Sept 7 (Reuters) - China's crude oil imports surged in August, customs data showed on Thursday, as refiners built inventories and increased processing to benefit from higher profits from exporting fuel. China's imports have increased from last year since domestic fuel demand is no longer being suppressed by widespread curbs to tackle the COVID-19 pandemic. However, the broader outlook for China's economy remains gloomy, with a weaker property sector and sluggish domestic consumption weighing on fuel demand. read moreAt the same time, oil product exports are rising as refiners cash in on rising profit margins from selling fuel overseas. Refined fuel exports last month rose to 5.89 million tons, customs said, up from 5.31 million tons in July and 23.3% than a year earlier.

Persons: Dado Ruvic, Xu Peng, Xu, Andrew Hayley, Tom Hogue Organizations: REUTERS, Administration, Customs, Citi, Thomson Locations: BEIJING, China, Beijing

Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-month extension was unexpected. "This is a clear indication that oil prices trump volume (for Saudi Arabia)," said Jorge Leon, senior vice president at Rystad Energy. "These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide," Leon added. Both Saudi Arabia and Russia said they would review the supply cuts monthly, and could modify them depending on market conditions. Along with the Saudi supply cuts, which began in July, prospects of the U.S. economy avoiding a hard recession have helped lift oil demand and prices in recent months.

Persons: Nick Oxford, Brent, Goldman Sachs, Jorge Leon, Leon, Giovanni Staunovo, Shariq Khan, Natalie Grover, Katya Golubkova, Andrew Hayley, Andrea Ricci, Nick Macfie, Timothy Gardner Organizations: Midland , Texas U.S, REUTERS, Brent, . West Texas, Investors, Rystad Energy, UBS, Thomson Locations: Midland , Texas, Saudi Arabia, Russia, BENGALURU, 4Q23, U.S, Saudi

☆ Oil jumps as Saudi Arabia and Russia extend supply cuts to end-2023
▼ + stars: | 2023-09-05 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

Riyadh's decision to extend its 1 million bpd voluntary cut will be reviewed monthly to consider whether to deepen the cut or increase production, state news agency SPA said on Tuesday. It has been cutting output and exports in tandem with Saudi Arabia on top of existing OPEC+ supply reductions. Russia had said it would cut oil exports voluntarily by 500,000 bpd, about 5% of its output, in August and by 300,000 bpd in September. Although Saudi Arabia was widely expected to extend its voluntary cuts into October, and Russia had indicated that it too planned on expanding its cut through next month, the three month extension was unexpected. Brent, which is used to price over three-quarters of the world's traded oil, has been rising since late June, after Riyadh first announced its voluntary cuts.

Persons: Nick Oxford, Alexander Novak, Craig Erlam, Brent, Natalie Grover, Katya Golubkova, Andrew Hayley, Sharon Singleton, Jason Neely, Jan Harvey, David Goodman, Alexandra Hudson Organizations: Midland , Texas U.S, REUTERS, Brent, West Texas, OPEC, Reuters, Alexandra Hudson Our, Thomson Locations: Midland , Texas, Saudi Arabia, Russia, U.S, Brent, Riyadh, London, Tokyo, Beijing

Meanwhile, U.S. West Texas Intermediate crude (WTI) October futures rose $2.42, or about 2.8%, to $87.97 a barrel, also a 10-month high. Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-month extension was unexpected"It would appear they're trying to double down and capitalize on the recent price moves. Both countries said they would review the supply cuts monthly, and could modify them depending on market conditions. Prospects of the U.S. economy avoiding a hard recession have helped lift oil demand and prices in recent months. Brent futures, which are used to price over three-quarters of the world's traded oil, have gained by about 26% since late June, after Riyadh first announced its voluntary cuts.

Persons: Nick Oxford, Goldman Sachs, Craig Erlam, Brent, Giovanni Staunovo, Natalie Grover, Katya Golubkova, Andrew Hayley, Andrea Ricci Organizations: Midland , Texas U.S, REUTERS, Brent, West Texas, Investors, Reuters, bbl, UBS, Thomson Locations: Midland , Texas, Saudi Arabia, Russia, BENGALURU, U.S, 4Q23, Riyadh, London, Tokyo, Beijing

Saudi Arabia has spearheaded efforts to support prices, making large voluntary output cuts as part of a production deal agreed by the OPEC+ producer group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia. Saudi Arabia's previous announcements have come ahead of its official selling prices, which typically emerge in the first week of the month. Russian Deputy Prime Minister Alexander Novak, meanwhile, has said that Moscow had agreed with OPEC+ partners on the parameters for continued export cuts in October. Saudi Arabia and Russia could withdraw the cuts at any point, said OANDA analyst Craig Erlam, "but I can't imagine they'll be in any rush and risk sending the price tumbling again." The oil market is vulnerable to price spikes due to low inventories and underinvestment in new oilfields, a senior official at global commodities trading firm Trafigura (TRAFGF.UL) said on Monday.

Persons: Alexander Novak, Craig Erlam, Brent, Russell Hardy, Xi, John Evans, Stephanie Kelly, Paul Carsten, Natalie Grover, Mohi Narayan, Yousef Saba, Andrew Hayley, Jason Neely, David Goodman, Mike Harrison Organizations: Companies, U.S . Federal, of, Petroleum, Saudi, . West Texas, . U.S, Federal, Thomson Locations: Companies Saudi Arabia, Russia, Saudi Arabia, OPEC, Moscow, India, Kuwait, Jizan, Oman, China, ., New York, London, New Delhi, Dubai, Beijing

LONDON, Sept 4 (Reuters) - Oil prices were stable on Monday amid expectations that major producers would keep supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the U.S. economy. Both contracts ended last week at their highest in more than half a year, after two previous weeks of losses. "Crude oil prices have been primarily driven by the anticipation of additional supply cuts from major oil-producing nations, Russia and Saudi Arabia," said Sugandha Sachdeva, executive vice president and chief strategist at Acme Investment Advisors. Saudi Arabia is expected to roll over a voluntary 1-million-barrel per day (bpd) cut into October. Saudi Arabia's previous announcements on its voluntary cut extension came ahead of its official selling prices, which typically come out in the first week of the month.

Persons: Sugandha Sachdeva, Sachdeva, Alexander Novak, Russell Hardy, Paul Carsten, Mohi Narayan, Yousef Saba, Andrew Hayley, Simon Clarence Fernandez, Jason Neely Organizations: Federal Reserve, Brent, . West Texas, Acme Investment Advisors, Saudi, Russia, Organization of, Petroleum, Reserve, PMI, Investors, Thomson Locations: U.S, Russia, Saudi Arabia, India, Kuwait, Jizan, Oman, China, London, New Delhi, Dubai, Beijing

☆ Oil steady amid OPEC+ supply cut expectations
▼ + stars: | 2023-09-04 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

NEW DELHI, Sept 4 (Reuters) - Oil prices were stable on Monday, amid expectations that major producers would keep supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the U.S. economy. "Crude oil prices have been primarily driven by the anticipation of additional supply cuts from major oil-producing nations, Russia and Saudi Arabia," said Sugandha Sachdeva, executive vice president and chief strategist at Acme Investment Advisors. Sachdeva added, however, that the steady increase in U.S. oil production could limit further significant gains in price. Russia has already said it will cut exports by 300,000 barrels per day (bpd) in September, following a 500,000-bpd cut in August. "Because of the OPEC+ cuts, there's not sufficient supply (of sour crude) for all these complex refineries in India, Kuwait, Jizan, Oman and China," Hardy said.

Persons: Sugandha Sachdeva, Sachdeva, Alexander Novak, Russell Hardy, there's, Hardy, Mohi Narayan, Andrew Hayley, Simon Cameron, Moore, Clarence Fernandez Organizations: Federal Reserve, Brent, . West Texas, Acme Investment Advisors, Organization of, Petroleum, Thomson Locations: DELHI, U.S, Russia, Saudi Arabia, Singapore, India, Kuwait, Jizan, Oman, China, New Delhi, Beijing

☆ Oil rises on China, US economic data and OPEC+ cut expectations
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Sept 4 (Reuters) - Oil prices ticked up in Asian morning trade on Monday, as market sentiment was buoyed by positive China and U.S. economic data, as well as expectations of ongoing crude supply cuts from major producers. In the U.S., employment data was higher than expected on Friday, with nonfarm payrolls increasing by 187,000 jobs last month. An official announcement with details of the planned cuts is expected this week. Russia has already said it will cut exports by 300,000 barrels per day (bpd) in September, following a 500,000 bpd cut in August. Saudi Arabia is also expected to roll over a voluntary 1 million bpd cut into October.

Persons: Brent, nonfarm, Alexander Novak's, Andrew Hayley, Jamie Freed Organizations: . West Texas, Beijing, Federal Reserve, Organization of, Petroleum, Thomson Locations: BEIJING, China, U.S, Russia, Saudi Arabia

☆ Uvalde mayor seeks resignation of prosecutor probing school shooting response
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

People visit a memorial for the 21 victims of a school shooting, one year after the shooting, at Robb Elementary School in Uvalde, Texas, U.S., May 24, 2023 . REUTERS/Evan Garcia/File Photo Acquire Licensing RightsAug 31 (Reuters) - The mayor of Uvalde has called for the resignation of the local prosecutor, questioning her impartiality in the probe of law enforcement's response to a deadly 2022 school shooting in the southwest Texas town. Law enforcement officers from several agencies waited more than an hour, while some children called for help, before eventually storming the classroom and killing the shooter. Her investigator Shayne Gilland's presence "taints her entire inquiry into any possible criminal conduct by law enforcement," Mclaughlin said in the statement, in which he also called for Mitchell's resignation. The city sued Mitchell to obtain the information, McLaughlin said.

Persons: Evan Garcia, Mayor Don McLaughlin, Christina Mitchell's, Shayne Gilland's, Mclaughlin, Mitchell, McLaughlin, Andrew Hay, Donna Bryson, Bill Berkrot Organizations: Robb Elementary School, REUTERS, Mayor, San Antonio Express, Thomson Locations: Uvalde , Texas, U.S, Uvalde, Texas

REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Aug 24 (Reuters) - Taiwan will spend an extra T$94.3 billion ($2.97 billion) to buy weapons next year including fighter jets to bolster its defences against China, the government said on Thursday, and will get a further boost from new F-16 fighter jet tracking systems. Taiwan President Tsai Ing-wen already announced on Monday that overall proposed defence spending for 2024 would be set at T$606.8 billion, a 3.5% increase from the previous year. The United States on Wednesday approved a possible $500 million sale to Taiwan of infrared search and track systems for F-16 fighter jets, as well as other equipment. China, which routinely denounces any foreign arms sales to Taiwan, urged the United States to immediately cancel the planned sale, its foreign ministry said. Tsai has overseen a military modernisation programme to make the armed forces better able to face China, including upgrading a fleet of F-16 fighter jets and developing submarines.

Persons: Ann Wang, Tsai Ing, Po, huei, Tsai, Ben Blanchard, Faith Hung, Andrew Hayley, Christopher Cushing, Miral Organizations: Taiwan's Defence Ministry, REUTERS, Rights, United States, Democratic Progressive Party, Thomson Locations: Taichung, Taiwan, Rights TAIPEI, China, Taipei, United States, United, Beijing

Markets await hints on the outlook for interest rates when Federal Reserve officials and policy makers from the European Central Bank, the Bank of England and the Bank of Japan head to Jackson Hole, Wyoming, for an annual meeting later this week. Earlier on Wednesday, Japan posted shrinking factory activity for a third straight month in August, and the euro zone, France, Germany, Britain and the United States are set to release their own purchasing managers' index (PMI) data later in the day. Crucial to shoring up oil demand over the rest of the year is China, the world's second-largest economy. Crude stocks in the United States continued to fall, dropping by about 2.4 million barrels in the week ended Aug. 18, according to market sources citing American Petroleum Institute figures on Tuesday. That was a slightly smaller draw than a drop of 2.9 million barrels analysts expected in a Reuters poll.

Persons: Jackson, Brent, Hiroyuki Kikukawa, John Evans, Paul Carsten, Yuka Obayashi, Andrew Hayley, Clarence Fernandez, Mark Potter Organizations: Danang Petroleum Machinery Technology JSC, U.S, West Texas, Federal Reserve, European Central Bank, Bank of England, Bank of Japan, U.S . Federal, NS, Nissan Securities, PVM, Organization of, Petroleum, American Petroleum Institute, Energy Information Administration, Thomson Locations: Danang, United States, Jackson Hole , Wyoming, Japan, France, Germany, Britain, China, Saudi Arabia, Russia, U.S, London, Tokyo, Beijing

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsBEIJING, Aug 23 (Reuters) - Oil prices ticked up in Asian trade on Wednesday, as markets weighed weak demand indicators from top importer China and the prospect of further U.S. rate hikes against potential supply tightness. "Concerns over higher interest rates and sluggish demand in China are expected to outweigh tightening supply from OPEC+ in the short term." China, the world's second-largest economy, is considered crucial to shoring up oil demand over the rest of the year. That was a slightly smaller draw than a drop of 2.9 million barrels analysts expected in a Reuters poll. "Following the massive draw of 6.2 million barrels a week earlier, overall supplies conditions still lean on the tighter end," said Jun Rong Yeap, a market strategist at IG in Singapore.

Persons: Lucy Nicholson, Brent, Jackson, Hiroyuki Kikukawa, Rong Yeap, Yuka Obayashi, Andrew Hayley, Sonali Paul, Clarence Fernandez Organizations: REUTERS, Rights, China, West Texas, Federal Reserve, European Central Bank, Bank of England, Bank of Japan, U.S . Federal, NS, Nissan Securities, Organization of, Petroleum, American Petroleum Institute, IG, Energy Information Administration, Thomson Locations: Bakersfield , California, Rights BEIJING, Jackson Hole , Wyoming, China, Saudi Arabia, Russia, OPEC, United States, Singapore, U.S, Tokyo, Beijing

Loeffler fears a land grab on Maui would mean the loss of Hawaiian culture. Affordable housing advocates such as Hawaii Alliance for Progressive Action (HAPA) are calling for a moratorium on foreclosures. At stake is the survival of Hawaiian culture, said Kaliko Baker, an associate professor at the University of Hawaii. "If people buy land and build their own Lahaina does that include Hawaiian language schools?" Loeffler plans to rebuild her plantation-style family home with insurance money so Lahaina can again "look like Lahaina."

Persons: Deborah Loeffler, Liliana Salgado, Loeffler, Josh Green, Marlena, Sterling Higa, Andrew Rumbach, Kaliko Baker, Baker, Sam, Andrew Hay, Rachel Nostrant, Daniel Trotta, Jonathan Allen, Donna Bryson, Michael Perry Organizations: REUTERS, Hawaii Alliance, Progressive, Consumer, Reuters, Housing, Urban Institute, University of Hawaii, Thomson Locations: Lahaina, Kaanapali, Hawaii, U.S, Maui, Paradise , California, New Mexico, Maui County, Oklahoma City, Florida, Honolulu, Washington, Loeffler, Taos , New Mexico

With equipment idling as construction slows and dwindling exports curb manufacturing, diesel demand is likely to ebb. Rystad Energy lowered its forecast for China's diesel demand for July to December this year to 3.81 million barrels per day (bpd) from an earlier outlook of 3.9 million bpd, though the new forecast is up 3.8% from the first half of 2023. "Diesel demand is still growing, but at a lower-than-expected rate," said Lin Ye, a Beijing-based downstream analyst at Rystad, citing the ailing property sector and deteriorating trade environment. An uptick in Chinese diesel demand earlier this year, driven by resurgent road freight transport in the first quarter, has lost momentum. August diesel exports are estimated at 650,000 to 800,000 tons, down from July's estimate of 1 million tons, data compiled by consultancy Longzhong and China-based trading analysts showed.

Persons: Aly, Lin Ye, Xia Shiqing, Wood Mackenzie, Mia Geng, Andrew Hayley, Trixie Yap, Christian Schmollinger Organizations: REUTERS, Rights, Energy, International Energy Agency, IEA, Reuters, Reuters Graphics Reuters, Reuters Graphics, Thomson Locations: Huangpu, Shanghai, China, Rights BEIJING, Beijing, Asia, Longzhong, Singapore

☆ Maui's 'one big family' of locals rally to aid of wildfire victims
▼ + stars: | 2023-08-17 | by ( Jonathan Allen | ) www.reuters.com time to read: +6 min

"We're all one big family in Maui, we call it 'ohana'," said Romero, a 55-year-old retired battalion chief for the island's fire department. While the fires were still burning, residents of nearby Moloka'i skimmed over the narrow strait on jet skis to unload donations on Maui beaches. Firefighters have flown in from Oahu on their own dime to help with relief efforts, Romero said. A nearby veterinary clinic had set up a stand where victims of the fires can bring ailing pets. "If we keep it bottled up inside we're not going to be able to move forward."

Persons: Marco Garcia, Uilani, Louis Romero, Romero, Kapu, Labo, George Vanyi, Jonathan Allen, Jorge Garcia, Sandra Stojanovic, Liliana Salgado, Andrew Hay, Sharon Bernstein, Colleen Jenkins, Rosalba O'Brien Organizations: Hawaii, REUTERS, Maui, FEMA, Firefighters, Cross, U.S . Department of Veteran Affairs, Ritz, Carlton, Walmart, Thomson Locations: Maui, Honolulu , Hawaii, U.S, LAHAINA, Hawaii, West Maui, Lahaina, Moloka'i, Oahu, Napili

It's our loved ones," Pelletier said, relating the instructions that a director of the Federal Emergency Management Agency gave rescue workers in a briefing. Reuters Graphics Reuters GraphicsEven as Hawaii officials promised more help for the displaced, some Lahaina residents were taking matters into their own hands. Officials declined to estimate how many remained unaccounted for but promised they were meticulously verifying the status of all. The database includes names collected from "missing persons" notices posted at shelters as well as information submitted by loved ones. Reuters GraphicsBar chart shows visitor spending share of GDP to Maui and Hawaii which are much higher than that for the entire U.S.

Persons: Jorge Garcia KAHULUI, John Pelletier, It's, " Pelletier, Patience, Kanamu, Balindin, Pelletier, Shelee Kimura, ”, Kimura, Josh Green, Jeremy Greenberg, Chris Young, Green, Jorge Garcia, Mike Blake, Brendan O'Brien, Rich McKay, Andrew Hay, Brad Brooks, Sharon Bernstein, Dan Whitcomb, Frank McGurty, Jonathan Oatis Organizations: REUTERS, Maui County Police, Federal Emergency Management Agency, Reuters Graphics Reuters, Hawaiian Electric Industries, Hawaiian Electric, Federal Emergency Management, Cross, Reuters, Thomson Locations: Lahaina, Maui, Hawaii, U.S, Maui County, buffeted, “, California

Total refinery throughput in the world's second-largest oil consumer was 63.13 million metric tons last month, data from the National Bureau of Statistics (NBS) showed. Production was up slightly from the 14.83 million bpd of oil processed in June. Domestic fuel demand has picked up with the arrival of the summer travel season, notably in gasoline and jet fuel. China's crude oil imports in July pared back from close-to-record levels during the previous month, totalling 43.7 million metric tons, or 10.3 million bpd, according to the customs data. The NBS data on Tuesday also showed China's domestic crude oil production in July was 17.31 million metric tons, or 4.1 million bpd, versus 17.13 million metric tons in 2022.

Persons: Dominique Patton, refiners, Production, Andrew Hayley, Jacqueline Wong Organizations: Shandong Haiyou Petrochemical Group, REUTERS, National Bureau of Statistics, Reuters, Zhuochuang, Thomson Locations: Shandong, county, Shandong province, China, BEIJING

Smoke billows from flames near Lahaina as wildfires driven by high winds destroy a large part of the historic town of Lahaina, Hawaii, U.S. August 9, 2023. The database includes names collected from "missing persons" notices posted at shelters as well as information submitted by loved ones. About 46,000 people had flown out of Kahului Airport, Maui's main airport, between Wednesday and Saturday, according to the Hawaii Tourism Authority. "50% of our visitor economy still exists and is thriving in South Maui," the Maui Fresh Streatery food truck posted on Facebook. Bar chart shows visitor spending share of GDP to Maui and Hawaii which are much higher than that for the entire U.S.

Persons: Dustin Johnson, Handout, Josh Green, We've, Green, We're, Chris Loeffler, Deanne Criswell, Criswell, Jeremy Greenberg, Greenberg, Chris Young, Young, Basil Spring, Jorge Garcia, Mike Blake, Brendan O'Brien, Rich McKay, Andrew Hay, Brad Brooks, Sharon Bernstein, Doyinsola Oladipo, Dan Whitcomb, Joseph Ax, Daniel Trotta, Jonathan Oatis, Matthew Lewis Organizations: REUTERS, Monday, Reuters Graphics Reuters, Federal Emergency Management Agency, FEMA, Cross, Hawaiian Electric Industries, CNN, Kahului, Hawaii Tourism Authority, Reuters Graphics, Facebook, Thomson Locations: Lahaina, Lahaina , Hawaii, U.S, Hawaii, Maui, Minnesota, West Maui, Maui's, South Maui

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