Renewable power generation capacity will increase by 7 percent this year despite a 5-percent forecast decline in global energy demand, the International Energy Agency said in its Renewables 2020 report. Continue Reading
Iraq and Saudi Arabia have affirmed their “full commitment” to the OPEC+ output curbs decision in order to achieve an oil price that is fair to both consumers and producers, Continue Reading
The renewed lockdowns in major European economies are set to weigh on the oil demand outlook, Keisuke Sadamori, Director of the Office for Energy Markets and Security at the International Continue Reading
It takes energy to accomplish any of the activities that we associate with GDP. It takes energy to grow food: human energy, solar energy, and–in today’s world–the many types of Continue Reading
$15 trillion: this is the amount of money to be invested in new power capacity globally over the next three decades. Most of this—80 percent—will be poured into renewables. This Continue Reading
It’s the latest signal that the group is reconsidering plans to hike production in January. (Bloomberg) — OPEC+ ministers talked openly about the possibility of tweaking their oil-cuts deal, the Continue Reading
OPEC+ crude oil output ticked up 210,000 b/d in October, the latest S&P Global Platts survey found, as the alliance readies to set production levels for 2021 in what may Continue Reading
India wants OPEC to review its pricing policies for the Asian market and end the premium it puts on its crude for Asia, Indian Oil Minister Dharmendra Pradhan said at Continue Reading
The Organization of the Petroleum Exporting Countries and Russia are considering deeper oil output cuts early next year to try to strengthen the oil market, one OPEC source and one Continue Reading
The low oil prices and the record OPEC+ production cuts are set to nearly halve the net oil export revenues of OPEC members this year compared to 2019, sending them Continue Reading
