Oil prices were largely steady in volatile trading on Thursday as the market weighed concerns over global supply against a build in U.S. fuel product inventories. Brent crude futures for Continue Reading
Oil is heading for the first monthly decline since November as OPEC+ ministers prepare to gather to discuss the group’s supply policy. West Texas Intermediate futures traded near $110 a Continue Reading
Oil prices are likely to soar past $200 per barrel if G7 manages to cap the price of Russian crude oil, according to chief commodities analyst at Swedish bank SEB Continue Reading
Underinvestment in oil and gas in the past few years is seen as one of the main reasons for the current imbalance between supply and demand. G7 nations have acknowledged Continue Reading
The global offshore wind industry had a record year in 2021 in terms of new capacity but is still projected to fall short of the International Energy Agency’s net zero Continue Reading
The reactor building of the Bushehr nuclear power plant in southern Iran. Indirect talks between Iran and the U.S. on reviving the 2015 nuclear deal ended without a breakthrough on Continue Reading
Highlights Gulf producers face questions over sustainable capacity Saudi Arabia’s August quota a level it has only achieved twice OPEC pressed to pump more, as Biden prepares Saudi visit Saudi Continue Reading
‘These attacks are designed to undermine economic stability’. U.S. Department of State Spokesperson Ned Price has stated that the U.S. stands with its partners in condemnation of the repeated rocket Continue Reading
OPEC+ enters a second and final day of meetings on Thursday with sources saying the group is unlikely to decide imminently to pump more barrels to the market beyond August. Continue Reading
Top oil exporter Saudi Arabia may raise prices of light crude grades to Asia for the second straight month in August on the back of record distillate margins and strong Continue Reading
For more than a decade, he was a feared presence in Iran, presiding over a vast intelligence apparatus. He crushed domestic dissent and political rivals and expanded covert operations beyond Continue Reading
OPEC+’s two-year production pact is sent to end in August. The war premium on oil has kept prices elevated, adding inflationary pressure across the globe. OPEC has routinely struggled to Continue Reading
OPEC and OPEC+ begin a series of two-day meetings on Wednesday with sources saying chances of a big policy change look unlikely this month. At its last meeting in early Continue Reading
Oil barrels and a metro train in Faridabad, India. Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become Continue Reading
India’s diesel exports in May posted a growth of 15.2% compared with the previous month and are set to rise further, as the arrival of monsoon rains is expected to Continue Reading
Exports of Ecuador’s flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output, state-run Petroecuador said on Wednesday. At least eight Continue Reading
Japan’s electricity grid creaked on Thursday under the strain of Tokyo’s hottest June since records began, but a power crunch that could have deprived tens of millions of electricity was Continue Reading
It’s official: Chinese equities are once again in vogue, after months of regulatory crackdowns, deleveraging and stringent virus curbs wiped trillions of dollars off benchmark gauges. A Bloomberg survey of Continue Reading
Australia’s biggest grid has released a multibillion-dollar plan to ease its transition away from coal and avoid pitfalls that earlier this month led to the unprecedented step of temporarily taking Continue Reading
U.S. crude stocks fell in the latest week but fuel inventories rose, the government said on Wednesday,as refiners picked up activity, while industry production hit its highest in more than Continue Reading
Executives at electric car marker Tesla, drug maker Novartis and retailer Bed Bath and Beyond are cutting spending or jobs while others are shelving projects or deals as inflation rages Continue Reading
‘More Pain at the Pump to Come,’ Stephen Schork Says Global road fuel demand will peak in five years though it will be decades before shifts in consumption reshape transportation’s Continue Reading
Ford F -2.46%▼ Motor Co. is preparing new rules for how it sells electric vehicles, a shift that is concerning some dealers and seen as challenging the traditional franchise model. Executives from the Continue Reading
The Biden administration’s first sale of oil and gas drilling rights on federal land garnered thin industry interest on Wednesday while environmental groups filed two separate lawsuits seeking to invalidate Continue Reading
Global markets are set to close out their most bruising first half of a year in decades, leaving investors bracing for the prospect of further losses. Accelerating inflation and rising Continue Reading
Household spending may be running out of momentum, economists say, as Americans face the highest inflation in four decades and incomes that haven’t kept up with price increases. U.S. consumers Continue Reading
Many drivers aren’t looking for free upgrades when they rent cars for summer road trips. They are more concerned with fuel efficiency. The cost of gasoline has retreated slightly from the record highs Continue Reading
Permian Highway Pipeline reached a final investment decision to move forward with a proposed expansion project, Kinder Morgan said June 29, part of a wave of new takeaway capacity projects Continue Reading
Oil prices climbed higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 2.8 million barrels for the week to June 24. A day earlier, Continue Reading
The Dutch government on Wednesday said it would invest 750 million euros ($789 million) through to 2031 to develop a national hydrogen transportation network. In a letter to parliament, Energy Continue Reading
Russian President Vladimir Putin attends Caspian Summit in Ashgabat, Turkmenistan June 29, 2022. Sputnik/Grigory Russian President Vladimir Putin still wants to seize most of Ukraine, but his forces are so Continue Reading
Shell CEO van Beurden: spare capacity is running very, very low. van Beurden: demand for oil and gas is still recovering despite the current economic and pandemic challenges. Shell: it Continue Reading
Russia’s crude and condensate production has increased in June by 5% to an average of 10.7 million barrels per day (bpd), Russian daily Kommersant reported on Wednesday, quoting sources familiar Continue Reading
The energy crisis in Germany risks becoming more severe in the coming days as wind power generation will dip amid low wind speeds this week, according to a Bloomberg weather Continue Reading
KYIV, June 30 (Reuters) – Russian forces announced on Thursday they had abandoned the strategic Black Sea outpost of Snake Island, in a major victory for Ukraine that could loosen Continue Reading
Logo of the Russian energy company Gazprom is seen on а station in Sofia, Bulgaria, April 27, 2022. REUTERS/Spasiyana Sergieva MOSCOW, June 30 (Reuters) – Russian gas giant Gazprom (GAZP.MM) Continue Reading
A technical problem with the Nord Stream 1 gas pipeline reported by Russia is merely a pretext, German Economy Minister Robert Habeck said on Thursday. “We are in a gas Continue Reading
The Treasury Department on Wednesday announced the delivery of $1.3 billion in economic aid to Ukraine, as the United States seeks to help the beleaguered nation respond to the enormous Continue Reading
‘Market participants are still wary of further supply cuts and elevated prices though’. Gas supplies to Europe are holding firm despite ongoing troubles at the Nord Stream 1 pipeline, leaving Continue Reading
Green hydrogen is one of the most promising clean energy opportunities on the market, but it has proven to be prohibitively expensive. A combination of oil majors and governments are Continue Reading
Crude oil futures were lower in mid-morning trade in Asia June 29 in a sign that a three-day rally has run out of steam, with latest US consumer confidence data Continue Reading
Expect lots of oil price volatility in the coming months as markets finally discover just how much spare capacity OPEC members really have. Oil production outages in Libya and the Continue Reading
Oil took a breather after a three-day rally as traders continued to weigh the risk of an economic slowdown against ongoing tightness in the crude market. West Texas Intermediate traded Continue Reading
Oil prices fell on Wednesday, taking a break after gaining for three sessions, as concerns about the global economy weighed while tight supply curbed losses. Brent crude futures for August Continue Reading
Olaf Scholz departs following his closing news conference on the final day of the G-7 summit in Elmau, Germany, on June 28.Photographer: Liesa Johannssen-Koppitz/Bloomberg Leaders of the world’s richest economies Continue Reading
G7 leaders on June 28 tentatively backed plans for an international cap on Russian oil prices in response to the Ukraine war while pledging to boost energy security and try Continue Reading
An offshore oil well platform in the Gulf of Mexico.Photographer: Luke Sharrett/Bloomberg Group of Seven nations are set to allow some exceptional public financing of overseas fossil-fuel projects to continue Continue Reading
Workers operate a drilling rig at the West Qurna 2 oil field in Basra. (ALI ABU IRAQ/Iraq Oil Report) Two of the world’s biggest oil services companies have informed the Continue Reading
A person operates a tap of crude oil during the destruction of Bakana ii illegal camp, in Okrika, Rivers state, Nigeria January 28, 2022. REUTERS/Afolabi Sotunde/File Photo LONDON, June 29 Continue Reading
Iran has applied to join the BRICS group of major emerging economies, which includes China, Russia, and India, Reuters reported on Tuesday, a move that would help to secure an Continue Reading
