OPEC is unlikely to reverse any of the production cuts that it approved last year as growing production from non-cartel countries is on the rise, pressuring prices. The observation, made by BP’s chief economist Spencer Dale, could inject some optimism into oil markets, where many appeared to expect that the …

Asia is on track to import this month the highest level of LNG since January as demand grows despite rising spot LNG prices in the region. Asia’s LNG imports are expected to stand at 24.85 million metric tons in July, the highest level in six months, and higher than the …

Rare earth mineral companies in China have been stung by declining prices at the same time the government “tightens its grip” on the industry, according to Nikkei Asia. Companies like Rising Nonferrous Metals, a rare-earth miner listed in Shanghai, are losing money this year, a stark contrast to last year’s …

The United States is likely 10 to 15 years behind China in deploying fourth-generation nuclear reactors at scale, as Chinese authorities are strongly backing the domestic industry with policies and financing, a new report by Washington-based research institute Information Technology & Innovation Foundation showed on Monday. China supports its domestic …

Several regions of the world are battling to achieve green hydrogen dominance by rapidly developing their hydrogen production capacity, transport infrastructure, and hydrogen corridors. While Asia and the Middle East are rapidly building their production capabilities, Europe is focusing on connectivity to ensure it can transport hydrogen across borders. Hydrogen …

It’s nearly two years since the United States Congress passed the historic Inflation Reduction Act (IRA), with the country’s solar sector expected to be one of its biggest beneficiaries. According to the U.S. Solar Energy Industries Association (SEIA), the IRA will drive an additional 160 gigawatts (GW) of solar capacity …

Market sources report that hot rolled coil steel prices in northern and southern Europe continued to decline in recent weeks due to slowing economies in Europe as well as overcapacity. “I’m a little scared about Germany,” one trader told MetalMiner, referring to that country’s current economic situation. Germany’s economy is …

Rising global crude stockpiles and weak demand could prompt Saudi Arabia to lower the price of Arab Light, its flagship crude, for Asian customers for January for the first time in seven months, a Reuters survey showed on Friday. Saudi Aramco, the world’s largest crude oil exporter, could lower the …

In line with Moscow and Beijing’s objective of keeping the West out of energy deals in Iraq to keep Baghdad closer to the new Iran-Saudi axis and to “end [the] Western hegemony in the Middle East [that] will become the decisive chapter in the West’s final demise,” Russia has struck …

The Middle East region is expressing increasing interest in developing its nuclear energy industry as the UAE and Saudi Arabia both announce new nuclear power projects. Several governments around the globe are showing renewed interest in low-carbon nuclear power as a means of shifting their reliance away from fossil fuels …