SHEL - Weekend energy news - EU oil embargo OPEC+ Canada LNG China reopening

It was a busy weekend for energy markets and policy news. Europe agreed on a Russian oil embargo, Russia cut natural gas supplies to the Netherlands, two interesting LNG headlines hit the tape and China continued to re-open, following pandemic-related lockdowns. OPEC+, set to meet later this week, indicated there will be no change to production growth plans on the back of this weekend's announcements.  In Europe, the EU Commission agreed to ban ~2/3rds of Russian oil imports immediately, with 90% of imports embargoed by year end. The continent is planning to allow for continued pipeline imports, which significantly mitigates the impact on global supply / demand balances, as seaborne imports are largely fungible. In the near term, the policy will likely result in more Russian exports to Asia, and more Middle East exports to Europe, with little impact on balances or Kremlin oil receipts. Importantly, Germany and Poland have

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Weekend energy news - EU oil embargo, OPEC+, Canada LNG, China reopening