Barclays: slowdown in global manufacturing activity could lead to increased downside for crude prices.
Barclays sees an estimated decline in Russia’s liquids output of 700,000 bpd from Q4 2023 to Q4 2024.
Barclays also isn’t writing off a potential boost in demand from China’s reopening.

Middle East Business Intelligence: West Qurna 2 faces delays.
West Qurna 2 is operated by Russia's Lukoil.
Work on the next development phase of the giant oilfield was supposed to be completed by the end of this year.

The year 2023 is approaching. At the turn of the year, on behalf of the board of directors, I extend my best New Year wishes to all of you, to all staff and Weima families, and to all customers, partners and friends from all walks of life!

Recently, the Ministry of Industry and Information Technology, China Federation of Industrial Economics released the "seventh batch of manufacturing individual champion enterprises (products)", the sucker rod pumps of Shandong Weima Pumps Manufacturing Co.,Ltd. were rated as national manufacturing individual champion products.

Today we’re offering a free glimpse into our monthly Global Energy Alert stock analysis. This report is written by David Messler, one of the top traders in the biz. He’s got a knack for picking winners and a keen eye for spotting ‘em before anyone else. Below, he breaks down two key oilfield service opportunities you’ll want to keep an eye on.

Peru’s promising petroleum potential is being threatened as a political crisis embroils the country.
Peru’s oil production has declined sharply since the 1990s, with nearby Colombia and Ecuador garnering the energy investment once destined for the impoverished Andean country.
With fossil fuels providing 72% of all energy used in Peru, it is key for the national government to promote the development of the hydrocarbon sector to prevent an energy crisis.

In recent years India has been a key driver of global energy demand growth, helping to push both oil and gas prices higher.
As central banks around the world hike interest rates, global economic growth is slowing, which will ultimately lead to a slowdown in India’s energy demand growth.
While India may see a slowdown in oil and gas demand next year, its growing transportation sector will drive plenty of demand growth in the future.

On the afternoon of June 29, the unveiling ceremony of the cooperation between Shandong Weima Pump Co., Ltd. (hereinafter referred to as Weima Pump) and Jinan University was successfully held in Weima Pump. Ma Baozhong, chairman of Weima Pump Industry, and Zhang Shiqiang, president of Jinan University, attended the unveiling ceremony.

EU crude imports from Russia are set to plunge after the import ban of seaborne crude oil on December 5th.
Oil production growth in the U.S. is flattening for a number of reasons.
U.S. crude exports to the EU can only replace a small portion of Russian/OPEC crude.

Colombia’s oil industry is facing multiple headwinds, including higher taxes, plans to end exploration, and its crude reserves running out.
Perhaps the largest headwind is the violence associated with the country’s cocaine trade, as its largest oil-producing areas are also coca-cultivating regions
In Colombia, oil is responsible for 3% of the gross domestic product, 12% of national income, a third of foreign investment, and 34% of total exports by value.

Crude oil prices fell today, even after the U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18.

The Biden Administration has just approved a new 2 million bpd oil export terminal for the Texas Gulf Coast.
The approval comes amid suggestions from Democrats in Congress that the U.S. should curb oil exports to secure local supply.
The project involves building a terminal about 30 miles south of Freeport, in Surfside.