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Tidbits, US-China Debt, Rain Days Update 9/4/23

Highlights


Rapidly forming El Niño conditions over the central and eastern Pacific Ocean have increased the probability of a strong episode this winter that would likely raise temperatures and reduce gas consumption in the United States.

Sea surface temperatures in the most critical region of the ocean have warmed rapidly and have been almost +1.3°C above the long-term seasonal average so far in August having started the year -0.7°C below average in January.

Since 1973, during winters with a strong episode, the number of US heating degree days has been 7% lower than average during strong El Niño years.

Russia reported its seaborne oil exports and transit from its western ports will rise by 17% (300,000 barrels to 2.1 million) on a daily basis in September as domestic refineries cut runs due to seasonal maintenance.

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