Crude oil prices rose by more than 1% in early trade today following the OPEC+ meeting that took place Sunday. At that meeting, Saudi Arabia said it would voluntarily cut its oil production by another 1 million barrels daily next month in a bid to prop up global oil prices. …

Getting 170-plus countries to agree on a global treaty to fight plastic pollution was never going to be easy. But negotiators didn’t think clearing the first hurdle would be this hard. A second round of U.N. talks for an international plan to tackle plastic pollution limped toward its conclusion Friday, …

The International Energy Agency (IEA) announced in its latest report that Iran’s crude production volume reached 2.75 million barrels per day (bpd) in April. According to the report, Iran’s daily oil production increased 60,000 barrels of oil per day (bpd) in in the fourth month of 2023, according to which, …

China Energy Investment Corporation, a state-owned electricity generator, has started up a carbon capture project at one of its thermal coal power plants which will be the biggest such carbon capture facility in Asia. The carbon capture, utilization, and storage (CCUS) facility at the Taizhou thermal coal power plant will …

Iraq is negotiating with Turkey to resume pumping oil exports from the Kurdistan region, confirmed by Iraqi Oil Minister Hayan Abdul-Ghani on Friday. He also emphasized that the OPEC+ coalition is committed to making decisions that achieve balance in the oil market and serve the interests of consumers, producers, and …

ExxonMobil and Chevron could gain access to Algeria’s vast natural gas resources as the U.S. supermajors are in advanced talks for exploration and production deals in the North African country, The Wall Street Journal reported on Friday, quoting sources with knowledge of the talks and Algerian Energy Minister Mohamed Arkab. …

LNG exports out of the United States fell in May to 7.66 million tonnes, according to shipping data cited by Reuters. That’s a 0.35 million tonne dropoff from the previous month. The United States shipped less LNG to Europe in May, while increasing LNG exports to Asia and Latin America. …

Oil prices were trading up on Friday afternoon as shorters got a little nervous heading into the OPEC+ weekend, with new rumors circulating about the group’s discussions about another 1 million bpd in production cuts. The OPEC+ group is scheduled for three separate meetings beginning this weekend and concluding on …

German Chancellor Olaf Scholz said on Friday that the country should speed up the transition to green energy both for climate protection and more prosperity. Speaking to reporters in Berlin, after a meeting with business and trade union leaders, Scholz underlined that Germany has ambitious goals, and it is aiming …

Russia’s Gazprom will send 40.3 million cubic metres (mcm) of gas to Europe via Ukraine on Saturday, the company said, down from 40.6 mcm on Friday.