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(Reuters) – OPEC+ has agreed to delay its plan to raise oil output until April 2025, an OPEC+ source told Reuters while its meeting was underway, to provide additional support for the oil market. The group will unwind its latest layer of output cuts gradually from April 2025 until 2026, the source said.
(Reuters) – Saudi oil giant Aramco, top oilfield services company SLB and Linde, the world’s largest industrial gases company, have signed an agreement to build a carbon capture and storage project in Jubail, Saudi Arabia. Aramco will own 60% of the project while SLB and Linde will hold 20% each, the companies said in a joint statement on …
Aramco, SLB and Linde Plan to Build Carbon Capture Project Read More »
Summary Slower demand, rising output beyond the group swells supply Global oil prices rangebound between $70 and $80/barrel OPEC+ to decide on planned UAE production increase from January (Reuters) – OPEC+ is likely at its meeting on Thursday to extend its latest round of oil output cuts until the end of the first quarter, four …
OPEC+ Likely to Prolong Oil Cuts for Q1, Sources Say Read More »
By Gavin Maguire (Reuters) – Natural gas prices in Asia, Europe and North America have climbed by around 30% to 50% so far in 2024, and look set to keep rising over the coming months as forecasts for cold weather trigger higher heating demand in key consumer hubs. Active restocking of rapidly-declining gas inventories in Europe …
Key Global Natural Gas Prices Set to Keep Rising into 2025 Read More »
The cartel needs to be more honest about the implications of its drive to keep crude prices high. By Javier Blas The best scandals are those that start when someone, somewhere, decides to say something utterly shocking: the truth! A senior official of the OPEC+ oil cartel has said publicly what many thought privately — the …
The Wrong Oil Price Is Truthfully a Problem for OPEC+ Read More »
Canadian Prime Minister Justin Trudeau visited Donald Trump’s Florida resort on Friday to meet with the U.S. President-elect, days after Trump threatened to slap tariffs on Canadian imports over border-related concerns.Trudeau, whose public itinerary did not list a scheduled visit to Florida, was seen leaving a hotel in West Palm Beach, Florida, to go to …
Canadian PM Trudeau Visits Florida to Meet With Trump Amid Tariff Threat Read More »
(Reuters) – Mexico’s President Claudia Sheinbaum said on Friday her administration had a plan to deal with the possible imposition of U.S. tariffs on Mexican crude oil, after President-elect Donald Trump threatened a blanket 25% import tax this week. “If it were to happen by all means we have a plan, but ideally it would …
Mexico’s Sheinbaum Says Government is Prepared for Possible US Crude Tariff Read More »
(Reuters Breakingviews) – Israel and Hezbollah’s peace deal is a key step on the path to a calmer Middle East – and, in theory, lower oil prices. On Tuesday, the U.S. and France managed to broker an agreement which reduces one aspect of crude’s geopolitical risk premium. But Iran and Donald Trump’s presidency are significant …
Sales of new energy vehicles have reached a tipping point Forecasters expect fuel consumption will decline rapidly Bloomberg News From Tesla chargers in the ancient alleys that surround the Forbidden City in Beijing to lonely highway rest stops with charging posts in the western deserts, signs of the electrification of China’s transport fleet — and …
China’s EV Boom Threatens to Push Gasoline Demand Off a Cliff Read More »
EU general court says pipeline couldn’t avoid internal gas law Controversial Baltic Sea gas link was partly destroyed in 2022 Russia’s controversial Nord Stream 2 pipeline lost the latest round of its legal fight against European Union gas market rules, in a largely symbolic court defeat for the now-shuttered project. Gazprom PJSC-controlled Nord Stream 2 should have foreseen that …
Gazprom’s Nord Stream 2 Loses Court Clash Over EU Rules Read More »
