Brazil, Guyana, and Argentina lead next wave of non-opec oil production 2030
Oil from offshore Brazil, Guyana, Suriname, and Argentina’s Vaca Muerta shale play will be key sources of cost-competitive non-OPEC oil supply through 2030, Rystad Energy has predicted. Rystad has predicted that global liquids demand will peak in the 2030s at around 107 million barrels per day (bpd), maintain a plateau above 100 million bpd through the 2040s before declining to around 75 million bpd by 2050. According to the Norwegian energy consultancy, non-OPEC+ supply will be key to balancing the global market, with cheap oil from South America helping to offset slower U.S. shale growth. Non-OPEC+ producers are expected to account for around 5.9 million bpd, or nearly 60 percent, of new conventional oil currently under development through 2030 (total new capacity). South America will be the main source of this supply growth at 560,000 bpd of crude and condensate, with North America supplying ~480,000 bpd.
Global oil and gas demand could grow until 2050: IEA
Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from its previous expectations of a speedy transition to cleaner fuels and predicting that the world will likely fail to achieve climate goals.
The IEA, the West’s energy security watchdog, has been under pressure from the U.S. for a shift in recent years toward a focus on clean energy policies as President Donald Trump called on American companies to further expand oil and gas production.
Under the Joe Biden administration, the IEA predicted that global oil demand would peak this decade and said no more investment in oil and gas was needed if the world wanted to achieve its climate target.
China’s secret to top-class milk
In the vast pastoral landscapes of China, a simple yet profound principle underpins the nation’s quest for premium milk: “Good grass feeds good cows, good cows produce good milk.”
This age-old wisdom, now amplified by cutting-edge technology and scientific management, has propelled China’s dairy industry to new heights, turning once-degraded grasslands into thriving hubs of high-quality milk production and breeding world-class dairy cows that rival global competitors.
The journey of a glass of premium Chinese milk begins with a blade of grass and, in Ar Horqin Banner in Inner Mongolia autonomous region, this journey is a tale of ecological revival and agricultural innovation. Back in the 1990s, 90 percent of the natural grasslands here suffered from varying degrees of desertification.
China’s steel slowdown
China’s steel sector, long the engine of its industrial rise, now faces a structural slowdown as construction wanes and exports surge. The shift exposes the limits of Beijing’s investment-led model and threatens upheaval across global iron-ore markets.
China’s long dependence on heavy industry has made its economy unusually steel intensive. Even as growth slows, the sector remains vast: China still produces more than half of the world’s steel and accounts for more than a quarter of global carbon emissions. But with construction and infrastructure activity slowing, domestic demand is falling, leading to persistent oversupply, a surge in exports and renewed trade friction with the United States and the European Union.
Pulses showing worldwide strength
While pulses remain a niche agricultural product with global production estimated at around 100 million tonnes annually, the potential exists for growth into a more widely produced and distributed grain, according to a recent report from Rabobank.
The report authored by Vito Martielli, senior grains and oilseeds analyst at Rabobank, said new demand for pulses is increasing, due in part to their sustainability profile, which includes natural soil-enhancing and greenhouse gas absorbing qualities.
Pulses have become a star in the drive to make agriculture more sustainable,” the report, which was released in August 2024, noted.
Unlike wheat and corn, which see global production at roughly 1.2 billion and 800 million tonnes, respectively, and are grown in dozens of countries around the world, the major varieties of pulses — chickpeas, dry peas and lentils, which account for 40 percent of total pulse production — are grown and exported by just a few countries, Rabobank said. Overall, there are 20 varieties of pulses produced globally.