European LNG prices have climbed to the highest level this year as heat waves in Asia push boost demand for the liquid fuel around the world.
1. Mexican Crude Production Collapses Ahead of Elections- Providing a somber reflection on Mexico’s upstream industry before the June 2 general election, crude production by Mexico’s state oil company Pemex fell below 1.5 million b/d for the first time in over 40 years. - April’s crude output of 1.
- Russia’s deteriorating wheat forecast has had a material impact on 2024-2025 prices, with cold weather and frosts severely damaging wheat crops in southern regions, whilst France and Italy were battered by heavy rainfall and storms. - Following a wheat harvest that exceeded 90 million tonnes last year, Russia’s outlook for this year’s production was already lowered to 83-84 million tonnes and could go even lower, triggering pricing spikes in wheat.
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