Venezuela Remains The Oil Market's Biggest Known Unknown

1. Despite Lower Gas Prices, Europe’s Industrial Gas Demand Just Not Enough- Europe’s industry gas demand is set to remain 20% below 2021 levels this year despite much lower natural gas prices and relatively ample LNG imports, raising the risks of deindustrialization in the continent’s industrial heartland. - An 8-10% decline in production for Europe’s chemicals industry is the largest decremental factor in absolute terms, with Germany struggling to kickstart its manufacturing performance – factory orders have recorded…