National Average Price for Regular – Current: $2.852; Month Ago: $2.857; Year Ago: $2.649. National Average Price for Diesel – Current: $3.182; Month Ago: $3.150; Year Ago: $2.717.
Recently, Flint Group announced price increases on conventional and UV sheetfed inks and coatings in Europe. Price increases vary by technology, reaching double digits for products most affected by intense raw material challenges. “Raw material consolidation continues without pause,” says Tony Lord, Vice President / General Manager of Flint Group’s CPS Inks division. Meanwhile, continues Mr. Lord, “China’s ‘Blue Skies’ initiative continues to force raw material companies to shut down—often permanently.” Mr. Lord makes clear that Flint Group has secured the raw materials needed to meet customers’ sheetfed ink demands. “We will continue to work closely with suppliers and help our customers mitigate the effects of these raw material trends.” Click Read More below for additional information.
US shale needs to add another ‘Russia’s worth of crude’ to prevent global oil shortage, IEA warns (cnbc.com)
U.S. shale oil producers would need to add the equivalent of Russia's entire crude oil production within just seven years to head off a global shortage, according to a global energy watchdog. The International Energy Agency (IEA) said Tuesday there will be robust demand growth for oil over the next few years driven by the rise in industry, aviation, and petrochemical needs. The economist said while some have pointed to the ability of U.S. shale oil to make up the difference, that theory would be severely tested as between now and 2025, the U.S would need to add more than 10 million barrels per day. Click read more below for additional detail.