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(Reuters) – The European Union has set a requirement for fuel importers into the bloc to prove their fuels are not made from Russian crude, according to a document published on Thursday. The document provides guidance on the EU’s upcoming ban on imports of fuels refined from Russian crude, part of its 18th sanctions package …
EU Publishes Rules for Ban to Close ‘Back Door’ for Russian Oil Read More »
(Reuters) – U.S. crude stocks rose more than expected last week as refining utilization dropped sharply to its lowest in eight months, data from the Energy Information Administration showed on Thursday. Crude inventories increased by 3.5 million barrels to 423.8 million barrels in the week ended October 10, the EIA said, compared with analysts’ expectations …
US Crude Stocks Climb as Refining Utilization Tumbles, EIA Says Read More »
(Reuters) – Oil, gas and coal will continue to dominate the world’s energy mix well beyond 2050, as soaring electricity demand outpaces the shift to renewables, according to a new McKinsey report. WHY IT’S IMPORTANT Continued use of fossil fuels poses a major challenge to achieving global net-zero climate targets. Electricity demand will rise mainly …
Fossil Fuels to Dominate Global Energy Use Past 2050, McKinsey Says Read More »
(Reuters) – Kremlin spokesman Dmitry Peskov said on Thursday that Moscow was able to supply high-quality oil at lower prices to countries that U.S. President Donald Trump is trying to persuade to stop buying Russian oil. Peskov said that the principles of free trade would be violated if such countries were deprived of the right …
With ongoing discussions about diversifying Alberta’s crude oil export routes, selecting the right destination port on British Columbia’s northern coast is critical. This analysis examines Prince Rupert as a prime candidate, highlighting why it stands out as the best choice for a new Alberta crude oil pipeline. Geographic and Logistical Advantages Prince Rupert is Canada’s …
Here are some of the main parts of his speech. He spoke in Russian and his words were translated by Reuters. ON FUTURE OF OIL MARKET: “According to estimates, global oil demand this year will amount to 104.5 million barrels per day, more than a million more than last year. The main factors driving consumption …
Putin Speaks on Oil, Gas, Coal and Nuclear at Russian Energy Week Read More »
Ron Bousso Summary International Energy Agency expects heavy oversupply in oil market Agency however reports 1.5 million bpd of ‘unaccounted’ oil in August IEA bearish outlook clashes with OPEC forecasts (Reuters) – The International Energy Agency continues to forecast a significant supply glut in the oil market, but uncertainty over the whereabouts of almost 1.5 …
Summary Trump said India will halt Russian oil purchases India said its goals are to ensure stable energy prices, secure supply Bessent told Japan Finance Minister that US expects Japan to stop importing Russian energy The UK announced new sanctions targeting Russian oil (Reuters) – Oil prices were stable on Thursday as market traders prepared …
Oil Steady as Traders Ready for Possible Indian Halt of Russia Imports Read More »
U.S. Treasury Secretary Scott Bessent said on Wednesday that he told Japanese Finance Minister Katsunobu Kato that the Trump administration expects Japan to stop importing Russian energy. “Minister Kato and I also discussed important issues pertaining to the U.S.-Japan economic relationship and the Administration’s expectation that Japan stop importing Russian energy,” Bessent said on X, …
Bessent Says US Expects Japan to Stop Buying Russian Energy Read More »
U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues. India and China are the two top buyers of Russian …
Trump Says Modi Has Assured Him India Will Not Buy Russian Oil Read More »
