Hints and tips:
...June 30-July 15, montreuxjazzfestival.com Love Supreme Jazz Festival, UK In its 10th year, the organisers have pulled together a big-name international line-up, ranging from jazz to R&B and soul....
...And the IEA believes global oil demand will rise this year by another 2mn barrels a day, to another record high of almost 102mn b/d. It sounds like a recipe for a very tight oil market....
...With the US exporting about 3m b/d of crude oil and 5m b/d of refined petroleum products this year, disruptions to Gulf infrastructure could affect global energy markets as well as US consumers....
...“It wasn’t a great market in 2016 when they came back either, and they still managed to start moving 2.4m b/d pretty quickly,” Mr Nephew said....
...JD Wetherspoon: bryce.elder@ft.comHomebase: kate.burgess@ft.com...
...US production fell by 2m barrels a day, according to Wood Mackenzie. Kpler, a data provider, estimates the country’s total output in February will be down by 1m b/d....
...There has been quite a buzz around the industry in recent days. Output, which fell from its 13m barrel a day peak to roughly 10m b/d, is well off its lows at about 11m b/d....
...But the change means a 2m b/d increase in supply, right?...
...But a rally to $40 a barrel has allowed production to bounce back to around 11m b/d as some wells have restarted. More supply is coming....
...But even before the storm hit, petrol demand was about 14 per cent lower than a year earlier. Saudi shipments to the US have dropped from about 1.6m b/d a day in May to less than 200,000 b/d....
...By year-end, he predicts, global demand will still be down by at least 5m b/d. “From here it will be a more lengthy process,” he said....
...But at today’s price of $40 a barrel, most shut-in wells are expected to restart soon, pushing output to 1.2m b/d in the second half of the year, according to consultancy Rystad Energy....
...US production has bounced back from sub-10m barrels a day to around 11m b/d....
...Now, as wells restart, its supply has already risen 300,000 b/d since its low point in late May, according to Artem Abramov at Rystad....
...Transport, in particular, holds up its end of oil demand, rising by 3.5m b/d until 2030 after efficiency improvements and fuel switching are baked in....
...Possibly his host yesterday, Double Eagle, which produces about 60,000 b/d from some of the best rocks in the Permian....
...Global demand was 18m b/d — or about 20 per cent — less than a year earlier, according to the IEA. Stockpiles bulged. WTI crashed below zero for the first time ever....
...Output fell more than 40 per cent in the first five months of the year, from almost 1.5m barrels a day in December to 862,000 b/d in May....
...Both Sudan and South Sudan are members of the Opec+ group, and under its limits for the first half of this year, Sudan can produce 72,000 b/d of crude, compared to South Sudan’s 129,000 b/d....
...Their backward-somersaulting frontman had the charisma of Prince: I wish I’d seen more. northseajazz.com...
...Obataimu, B Barucha Marg, Kala Ghoda (obataimu.squarespace.com). Trishna, 7 Saibaba Rd (trishna.co.in) In my fridge you’ll always find jam and cheese....
...LHT wembleystadium.com … Summer Series, July 10-20, Somerset House, London This year’s courtyard concerts at Somerset House include US R&B singer Kelis, touring her retro-soul album Food, tyro UK pop...
...lovesupremefestival.com Photograph: Getty...
...Norwegian by Night , by Derek B Miller, Faber, RRP£12.99 Bostonian writer Derek B Miller’s discursive but richly written Norwegian by Night‘s Jewish-American anti-hero is the 82-year-old Sheldon, fearing...
...gregory.meyer@ft.com...
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