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February 26 (KCNA) – The 9th Congress of the Workers Party of Korea concluded in Pyongyang on February 25, according to a report by the Korean Central News Agency (KCNA). In his summary report, General Secretary Kim Jong Un stated that continuously expanding and strengthening self-defense deterrence and war-fighting capabilities is North Koreas unwavering national defense policy and the most legitimate national defense strategy. Kim Jong Un said that in the Asia-Pacific region, the military activities of the US-led aggressor bloc seriously threaten the security of the Korean Peninsula and the region. Further expanding and strengthening the countrys nuclear forces and fully exercising its nuclear state status is North Koreas unwavering will. North Koreas nuclear state status plays a crucial role in deterring potential threats and maintaining regional stability; its nuclear forces are a fundamental guarantee of national security, interests, and the right to development, and a powerful security mechanism. He said that in order to enhance the military-technical capabilities of the North Korean armed forces during the new five-year plan, North Korea has raised the major issue of deploying new secret weapons and special strategic assets in the military, studied and formulated a new national defense development plan, and approved forward-looking plans.Bank of Japan board member Hajime Takada: Given the continued concern over the supply and demand situation, especially for ultra-long-term Japanese government bonds, the Bank of Japan must closely monitor the trend of long-term interest rates and communicate effectively with the market.Bank of Japan policy board member Hajime Takada: In special circumstances, the Bank of Japan may need to consider flexible measures, including purchasing Japanese government bonds.Bank of Japan board member Hajime Takada: Initial concerns about the impact of US tariffs have eased.Bank of Japan board member Hajime Takada: There is a broad consensus that the Japanese economy is no longer in deflation, and this seems to be fostering a general view that the price stability target is within reach.

OPEC Monthly Report: Maintain global economic expectations and raise crude oil demand expectations

LEO

Oct 26, 2021 11:03

GMT+8 On Wednesday (October 13), OPEC published a monthly report showing that despite the rise in oil prices, OPEC is still cautious about oil demand. The 2021 global oil demand growth forecast is lowered by 160,000 barrels/day to 5.8 million barrels/day, and the demand for OPEC crude oil in 2021 is expected to be raised by 100,000 barrels/day to 27.8 million barrels/day.



The OPEC monthly report maintains the global oil demand growth forecast in 2022 unchanged at 4.2 million barrels per day, with an average of 100.8 million barrels per day, and lowers the forecast of oil demand growth in 2021 from the previous 5.96 million barrels per day to 5.82 million barrels per day. /Day, rising natural gas and thermal coal prices will encourage more energy consumption to shift from natural gas to oil. Second-hand data shows that Iran’s September crude oil production increased by 22,000 barrels per day to 2.503 million barrels per day.

The demand for OPEC crude oil in 2021 will be raised by 100,000 barrels/day to 27.8 million barrels/day, and the demand for OPEC crude oil in 2022 will be increased by 100,000 barrels/day to 28.8 million barrels/day.

Second-hand data show that Saudi Arabia’s September crude oil production increased by 139,000 barrels/day to 9.678 million barrels/day, the UAE’s September crude oil production increased by 14,000 barrels/day to 2.789 million barrels/day, and Libya’s September crude oil production decreased by 5 thousand barrels/day. Barrels/day to 1.148 million barrels/day, China’s net imports of petroleum products increased by 1.28 million barrels/day to 11.19 million barrels/day compared with the previous round of statistics.

U.S. net imports of petroleum products increased by 1.01 million barrels per day to 1.53 million barrels per day from the previous round of statistics. India’s net imports of petroleum products increased by 600,000 barrels per day to 4.02 million barrels per day from the previous round of statistics. China's net imports of petroleum products increased by 1.28 million barrels per day to 11.19 million barrels per day from the previous round of statistics.

Maintaining the global economic growth forecasts for 2022 and 2021 at 4.2% and 5.6%, respectively, the global oil demand in 2021 is expected to be 96.6 million barrels per day. (Last month expected to be 96.7 million barrels/day), the 2021 non-OPEC oil supply forecast was lowered by 210,000 barrels/day.

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