G7 summit: Leaders pledge climate action but disappoint activists
Reuters The G7 summit was held in the resort of Carbis Bay in Cornwall, south-west England The G7 nations have agreed to step up action on climate change and renewed Continue Reading
G7 pledges to end support for unabated coal by end of 2021
Highlights Increased funds for move away from coal New industrial decarbonization agenda G7 policies to align with 1.5 C G7 leaders committed June 13 to end new direct government support Continue Reading
OPEC+ complies with 115% of agreed oil curbs in May
OPEC and its allies maintained strong compliance with agreed oil output targets in May, when the first part of a gradual production increase took effect, according to figures given by Continue Reading
IEA Tells OPEC To “Open The Taps”
Oil prices climbed on Friday as the IEA boosted optimism about global oil demand recovery. Friday, June 11th, 2021 Oil prices showed modest gains on Friday, after a selloff on Continue Reading
IEA urges OPEC+ to ‘open the taps’ as global demand seen rising 3.1 mil b/d in 2022
Trims H2 21 ‘call’ on OPEC but warns of supply-demand ‘chasm’ Non-OPEC+ oil output to rise 1.6 million b/d in 2022 Home-working, vehicle efficiency, EVs to impact gasoline Global oil Continue Reading
Oil demand to surpass pre-Covid levels by end of 2022, says IEA
Oil demand is expected to exceed pre-coronavirus levels by the end of 2022, the International Energy Agency said on Friday. Consumption declined by a record 8.6m barrels a day last year Continue Reading
Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half
OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China despite uncertainties stemming from the pandemic, pointing to a Continue Reading
OPEC Sees Strong Oil Demand Recovery This Autumn
Global oil demand will rise by 6 million barrels per day (bpd) this year from the lows of 2020, led by strong consumption in China and the United States, especially Continue Reading
OPEC Raised Oil Production By 400,000 Bpd In May
OPEC’s crude oil production rose by 390,000 barrels per day (bpd) to 25.46 million bpd in May 2021, the cartel said on Thursday as it started last month the gradual Continue Reading
Feature: IEA’s net-zero roadmap is unrealistic, lacks localized approach – Chinese experts
Highlights IEA report lacks differentiated approach between developed and developing countries Rapid phasing out of fossil fuels could destabilize energy supply, power grids Changing consumer habits, market mechanisms key to Continue Reading