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
Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. Underinvestment in oil and gas in the past few years is 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
View full article at www.nytimes.com
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
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
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
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
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
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
Indigenous people take part in an anti-government protest amid a stalemate between the government of President Guillermo Lasso and demanding an end to emergency measures, in Quito, Ecuador June 27, Continue Reading
TOKYO, June 30 (Reuters) – 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 Continue Reading
View full article at www.bloomberg.com
Transmission towers in Sydney, Australia. Photographer: Brendon Thorne/Bloomberg Australia’s biggest grid has released a multibillion-dollar plan to ease its transition away from coal and avoid pitfalls that earlier this month Continue Reading
Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant/File Photo June 29 (Reuters) Continue Reading
June 29 (Reuters) – 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 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
CEO meets with dealers after earlier comments about a brutal sales environment, less inventory and more web purchases View full article at www.wsj.com
June 29 (Reuters) – 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 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
Rental-car rates are also still elevated, as companies face challenges in securing new vehicles to expand their fleets. View full article at www.wsj.com
View full article at www.nytimes.com
View full article at www.nytimes.com
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
AMSTERDAM, June 29 (Reuters) – 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 Continue Reading
Russian President Vladimir Putin attends Caspian Summit in Ashgabat, Turkmenistan June 29, 2022. Sputnik/Grigory Sysoyev/Pool via REUTERS WASHINGTON, June 29 (Reuters) – Russian President Vladimir Putin still wants to seize 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
Highlights First piped gas to transit from Europe to Africa 1.1 million cu m exported on June 28: Enagas data Algeria halted gas supply to Morocco in November Spain has 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 TotalEnergies logo on a display next to a sculpture of installation artist Hubertus von der Goltz is seen at a fuel station in Berlin, Germany, March 24, 2022. REUTERS/Annegret Continue Reading
Pipes at the landfall facilities of the ‘Nord Stream 1’ gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke//File Photo BERLIN, June 30 (Reuters) – A technical Continue Reading
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast German unemployment unexpectedly rose, snapping 15 straight months of decline as refugees from the Continue Reading
WASHINGTON (AP) — Amos Hochstein, President Joe Biden’s point man for global energy problems, says he knows that transitioning away from the climate-wrecking pollution of fossil fuels is the only Continue Reading
Shares in Uniper, Germany’s largest buyer of Russian gas, dropped by a fifth on Thursday after the company warned on profits, withdrew its annual forecast and said it was in Continue Reading
View full article at www.washingtonpost.com
View full article at www.washingtonpost.com
‘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
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
