Qingdao Sino Energy Tech Co.,Ltd

Today's Energy Early News

◐ The International Energy Agency: The continuous closure of the Strait of Hormuz is impacting the global oil market. It is reported that on August 12th local time, the International Energy Agency, headquartered in Paris, released its latest monthly oil market report stating that due to the continuous closure of the Strait of Hormuz, high fuel prices, and the situation in the Middle East, both global oil supply and demand have been significantly affected. The International Energy Agency predicts that global oil demand will decrease by 1.6 million barrels per day in 2026, with the decline compared to the previous month's forecast expanding by 510,000 barrels per day; global oil supply is expected to decrease by 4.3 million barrels per day.

◐ A mining area in the Western Cape Province of South Africa collapsed, resulting in 14 deaths. According to Xinhua News Agency, on August 11th, the police of the Western Cape Province of South Africa released a statement saying that a mining area near Lesstenberg experienced a collapse accident, causing 14 illegal miners to die and 8 people to be injured.