Worst of Global Energy Crisis May Still Be Ahead, IEA Says
“We might not have seen the worst of it yet,” Birol warns. A global squeeze on energy supply that’s triggered crippling shortages and sent power and fuel prices surging may Continue Reading
OPEC Secretary-General Barkindo who helped forge alliance with Russia dies
OPEC Secretary-General Mohammed Barkindo, who helped forge the creation of the 23-member OPEC+ coalition, has died at the age of 63, less than one month before he was supposed to Continue Reading
OPEC oil output again misses target in June as outages weigh, survey says
OPEC in June did not deliver on an oil output increase pledged under a deal with allies, a Reuters survey on Friday showed, as involuntary declines in Libya and Nigeria Continue Reading
OPEC+ meets with little prospect of pumping more oil
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
The G7 Has Paved The Way For Increased Oil And Gas Spending
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
Oil production test looms for OPEC heavyweights Saudi Arabia, UAE
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
OPEC+ meets with little prospect of pumping more oil
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
Has OPEC+ Reached Peak Production Capacity?
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+ begins policy debate as capacity constraints loom
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
G-7 Leaders Just Made Success at COP27 Even Harder
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