Italian Eni has vowed to fully replace Russian gas by 2025 thanks to major developing LNG projects from Africa to the Middle East and major discoveries in the Eastern Mediterranean. Continue Reading
‘This will be the department for growth’. Jacob Rees-Mogg has been appointed as the UK’s new Secretary of State for Business, Energy and Industrial Strategy, after Liz Truss became the Continue Reading
Oil fell on Tuesday after a two-day rally as concern returned about weaker demand and the prospect of more interest rate hikes, trumping support from OPEC+’s first output target cut Continue Reading
Oil fell, with a post-OPEC+ meeting rally fizzling out, as traders weighed the group’s output cut as well as further lockdowns in China. Global benchmark Brent slid below $94 a Continue Reading
Oil surged at the start of the week as OPEC+ unexpectedly decided to cut output in October. West Texas Intermediate crude advanced as much as 4.1% to beyond $90 a Continue Reading
The recession ‘playbook’ may not work on the oil sector this time. The recession “playbook” may not work on the oil sector this time, a new BofA Global Research report Continue Reading
OPEC+ members have trusted their chairman, Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud, to intervene whenever necessary to stabilize crude markets through calling for a meeting at any time Continue Reading
OPEC+ meeting ends with small production cut decision. Russia was said to have resisted a production cut ahead of the meeting. OPEC+ decided that it could call a meeting at Continue Reading
Wary of a global economic slowdown, OPEC and its allies will trim their production quotas by 100,000 b/d in October, despite what appears to be a tight physical market, as Continue Reading
Rising political turmoil in Iraq could soon threaten the country’s oil production, with some analysts suggesting that up to a million barrels per day could be taken offline. As well Continue Reading
