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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 »
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 »
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 »
(Reuters) – The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to Dec. 5 from Dec. 1 to avoid a conflict with another event, OPEC said on Thursday. A summit of Gulf Arab countries is due to be held in Kuwait City on Dec. 1 which several OPEC+ ministers plan …
Summary Tariffs could raise US fuel prices by 10%, analysts say Many refineries configured to run heavy Canadian grades Midwest refineries most reliant on Canadian crude imports Gulf Coast refiners have some capacity to import more OPEC oil (Reuters) – U.S. President-elect Donald Trump’s pledge to impose tariffs on Canada would drive up fuel prices for …
Some US utilities say rising demand from data centers means fossil fuels will be needed for longer Big US utilities’ climate goals are in peril as artificial intelligence turbocharges electricity demand and Donald Trump’s reelection signals policy shifts that would favor fossil fuels. These companies all have ambitious targets to cut their carbon emissions, most often to reach …
Trump and the AI Power Boom Are Putting Utility Climate Goals at Risk Read More »
Deal enables EQT to pay down a term loan and credit facility It will give Blackstone stakes in Mid-Atlantic gas pipelines Funds managed by Blackstone Inc. agreed $3.5 billion of investment as part of a new joint venture with EQT Corp., enabling the US natural gas producer to reduce its debt. The deal will give the private equity …
Blackstone, EQT Form $3.5 Billion Gas Pipeline Venture Read More »
Nov 26 (Reuters) – Chevron (CVX.N) said on Tuesday that California’s recently enacted legislation on oil refineries needing to maintain minimum fuel stocks was “flawed,” according to a letter sent by the company to state Congress members. California, the most populous U.S. state, consistently experiences some of the nation’s highest average gas prices, leading to …
Chevron Sees California’s Fuel Inventory Law Raising Prices for Customers Read More »
By Maha El Dahan, Alex Lawler and Vladimir Soldatkin Iraqi, Saudi, Russian officials hold meeting in Iraq Talks come ahead of Sunday’s OPEC+ meeting Azerbaijan says OPEC+ might consider oil cuts rollover DUBAI/LONDON/MOSCOW, Nov 26 (Reuters) – OPEC+ nations are discussing a further delay to a planned oil output hike that was due to start …
OPEC+ Discusses Further Delay to Oil Output Hike, Sources Say Read More »
