ACCEB Daily Briefing – May 2nd

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  • Despite a 4-year low output from OPEC countries, oil prices fell due to growing US production that led to the highest stockpile level since 2017.
  • Spain’s pro-climate socialist won the election with 123 seats out of the 350-seat Congress.
  • Korea’s Environment Ministry issues report on its ETS results for Phase 1(’15~’17)
  • British Steel is rescued with a government loan of $156m to comply with emission rules.
  • California Lieutenant Governor joined China’s Belt and Road Forum and showed support for the country’s effort in addressing climate change.
  • In an open letter, six members of the European Parliament urged Californian authorities to drop the discussion of including forest credits in its emission trading program.