Sweden—the country that brought the world 17-year-old climate activist Greta Thunberg—is aiming to zero out greenhouse gases by 2045. To reach that goal, it’s ramping up wind energy. The country Continue Reading
Oil demand in China is rebounding, but it may be softer than what headline figures suggest. Last month, China imported a record-high 11.34 million bpd of crude oil. Because of China’s opaque Continue Reading
The reemergence of COVID-19 cases in Beijing is expected to dampen oil demand as flights are canceled, schools shut and neighborhood lockdowns initiated, but the extent of demand destruction for Continue Reading
The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs as companies battle weak Continue Reading
Retail foot traffic recovered to approach pre-lockdown levels last week and businesses appeared to bring more employees back to the job, according to data from firms that collect cellphone location Continue Reading
A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in Continue Reading
A recovery in demand for gasoline in the United States, the world’s largest market for the motor fuel, hit a plateau last week as coronavirus cases surged in some states, Continue Reading
Applications for unemployment benefits in the U.S. fell less than forecast last week, showing only gradual improvement from the worst of the pandemic-related layoffs even as states reopen more of their Continue Reading
Oil continued its comeback, buoyed by signs of increasing demand as cities emerge from lockdown. But fears of a second wave of the virus, combined with record-high stockpiles in the Continue Reading
Three months after the viral outbreak shut down businesses across the country, U.S. employers are still shedding jobs at a heavy rate, a trend that points to a slow and Continue Reading
Carnival Corp. reported a preliminary quarterly loss of more than $4 billion, its largest ever, as the Covid-19 pandemic has idled ships, and it warned that it could breach a Continue Reading
Already, companies large and small are succumbing to the effects of the coronavirus. They include household names like Hertz and J. Crew and comparatively anonymous energy companies like Diamond Offshore Continue Reading
Following a May that tied for the hottest on record, the United States is heading into a potentially blistering summer, with hotter than normal temperatures expected across almost the entire Continue Reading
U.S.’ energy dominance agenda is dead as the country’s shale industry is looking at a steep production decline. The U.S. tight oil or shale rig count has fallen 69% this Continue Reading
In a report called Carbonomics, investment bank Goldman Sachs concludes that investment in renewables will take a huge leap this decade. As soon as 2021, renewable energy will capture more Continue Reading
Recent data suggests that the climate is considerably more sensitive to carbon emissions than previously believed. Many major international agencies are pressing to include green energy investments in stimulus packages, Continue Reading
Oil producers all over the world are struggling with a slump in demand that has driven the lower-for-longer price forecasts. High-cost producers are between a rock and a hard place Continue Reading
Nearly all of the coal produced in the United States goes for electricity generation, but its share has been eroded in recent years by growing natural gas-powered generation and rising Continue Reading
Nearly 85,000 people in the U.S. oilfield services industry have lost their jobs due to the pandemic-driven oil price crash and demand destruction, Houston-based Petroleum Equipment and Services Association (PESA) Continue Reading
Gasoline production at Russia’s oil refineries slumped to the lowest level in 15 years in May as the country curtailed crude oil production as part of the OPEC+ deal and Continue Reading
Russian premium unleaded gasoline 95 RON climbed to a record high on June 18 on the back of a rebound in driving to levels before the coronavirus pandemic took hold. Continue Reading
Crude oil futures were trading lower in mid-morning trade in Asia June 18 after latest US inventory data showed a rise in crude stockpiles for a second consecutive week, while Continue Reading
The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the U.S. Futures Continue Reading
Oil prices recovered a bit on Wednesday morning after the Energy Information Administration reported an inventory build of 1.2 million barrels for the week to June 12. Fuel inventories, however, Continue Reading
Fatih Birol, executive director of the International Energy Agency, forecasts that the world’s daily oil demand will climb by 5.7m barrels next year. The world’s oil demand could climb at Continue Reading
The most recent edition of the Energy Information Agency monthly Drilling Productivity report confirmed what news reports had anecdotally told us. U.S. domestic shale production is on a decline, and Continue Reading
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas Continue Reading
Global oil demand will start to recover in the second half of the year from the crash in the second quarter, but it will still be down by 6.4 million Continue Reading
In its latest monthly oil market report released June 17, OPEC kept its 2020 forecasts largely unchanged from the May outlook, noting a historic contraction in oil demand but improving Continue Reading
The OPEC+ technical committee that met today did not make any additional recommendations for further production cuts, focusing instead on members who are failing to adhere to the current agreement, Continue Reading
Saudi Arabia is significantly cutting its crude oil exports to the United States this month, with shipments likely to hit a 35-year low and reducing the overhang in U.S. oil Continue Reading
Following the demand and oil price crashes, Saudi Arabia has idled offshore rigs and postponed the start of a US$18-billion expansion project, Bloomberg News reported on Wednesday, citing sources familiar Continue Reading
Iraq suffers power shortages, capacity at 16.77 GW Solar tender for 755 MW restarted Iraq recently signed two-year contract to import Iranian electricity Iraq plans to increase its generating capacity Continue Reading
Oil refinery (file photo). Three of Nigeria’s four refineries gulped N1.64 trillion in cumulative losses recorded in their operations since 2014, details from the first-ever audited accounts and financial statements Continue Reading
India’s onward march to boost its renewable energy capacity and build domestic capacity for making solar equipment got fresh impetus when Adani Green Energy Ltd won a bid to make Continue Reading
Venezuela is still sending oil to China despite stifling U.S. sanctions, Bloomberg has reported , citing shipping data from Kpler. As of this Monday, the data suggested, there were 3.3 Continue Reading
The volume of traffic on Beijing roads has fallen sharply this week as authorities attempt to quell a new coronavirus outbreak, highlighting the danger for energy demand if it can’t Continue Reading
The total number of coronavirus infections in the U.S. exceeded 2.16 million—more than a quarter of global confirmed cases, according to data compiled by Johns Hopkins University. More than 448,000 Continue Reading
While Beijing’s case numbers are low by, they are vexing Chinese authorities who had touted their success in quickly stamping out the coronavirus and had taken pains to ensure it Continue Reading
China’s carbon dioxide emissions increased by 3.4 percent last year, higher than the ten-year average growth rate of 2.6 percent, BP’s Statistical Review of World Energy showed on Wednesday—the highest Continue Reading
China’s incredible economic expansion has earned it the status of the world’s largest CO2 emitter. While the Asian country’s economy is second only to the U.S.’ its emission of greenhouse Continue Reading
China has tightened coronavirus restrictions in Beijing, cancelling flights and closing schools in a bid to stem the outbreak in the capital. Officials said on Wednesday that 31 new cases were Continue Reading
A new cluster of infections in Beijing has seen authorities raise the coronavirus alert level, cancel flights and roll out mass testing. The WSJ’s Jonathan Cheng explains how the outbreak Continue Reading
Crude nearly erased all losses after a U.S. government report showed inventories at the nation’s key storage hub in Oklahoma declined. Stockpiles at the Cushing site declined for a sixth straight Continue Reading
Oil slid after U.S. petroleum inventories climbed to a record for the second week in a row, more than offsetting signs of a recovery in fuel demand. Gasoline and distillate inventories Continue Reading
There is virtually no economic sector on Earth that has not been impacted by the spread of the novel coronavirus, but few have been as thoroughly battered as the global Continue Reading
The fossil fuel industry has faced serious headwinds for several years, but the rise of renewables combined with the fall in consumption as a consequence of the global corona crisis Continue Reading
US commercial crude stocks notched a fresh all-time high last week amid still-weak refinery demand and flagging exports, US Energy Information Administration data showed June 17. Receive daily email alerts, Continue Reading
US jet production is rising to meet growing demand as cautious fliers return to the sky amid the loosening of coronavirus lockdown restrictions, government inventory data showed June 17. Receive Continue Reading
A second wave of layoffs amid weak demand and fractured supply chains is likely keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long Continue Reading
