Oil prices were largely unchanged in Asian trade on Wednesday as a potentially big build-up of U.S. crude cancelled out gains triggered by likely supply cuts from the OPEC+ producers group. Brent crude futures rose 11 cents, or 0.1%, to $82.56 a barrel by 0004 GMT. U.S. West Texas Intermediate …

The current oil market deficit will turn into a slight surplus next year even if OPEC+ leaders Saudi Arabia and Russia extend their production and export cuts into 2024, Toril Bosoni, the Head of Oil Industry and Markets Division at the International Energy Agency (IEA), told Reuters on Tuesday. Global …

Supported by the United States, France will propose at the COP28 climate summit in Dubai an exit of private financing for coal-fired power plants, Reuters reported on Tuesday, citing sources with knowledge of the talks. According to Indian officials who spoke to Reuters, France has discussed with India – a …

ArcelorMittal, the world’s second-largest steelmaker, is looking to sign an agreement with a U.S. LNG exporter as it aims to secure stable supply of natural gas following last year’s energy crisis in Europe, the Financial Times reported on Tuesday, quoting sources with knowledge of the plans. Industrial giants in Europe …

The national oil producer of the United Arab Emirates and Australia’s energy group Santos have teamed up to jointly explore the development of a global carbon management platform to help customers in the Asia Pacific region cut emissions. Abu Dhabi National Oil Company, which pumps nearly all the oil in …

European natural gas prices were having a nervous trading session early on Tuesday as traders weighed higher heating demand amid colder weather with still nearly full EU inventories. The front-month Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, were down by 1.7% to $49.30 (45 euros) per …

World oil demand continues to exceed expectations, the International Energy Agency (IEA) stated in its latest oil market report (OMR), which was released recently. “We have slightly revised up our 2023 growth forecast to 2.4 million barrels per day, as U.S. deliveries proved more resilient than indicated by preliminary data …

TotalEnergies SE has signed up for the supply of four million barrels of oil per month from a pending project of Energy Transfer LP in the United States Gulf of Mexico. Energy Transfer has yet to make a final investment decision on the Blue Marlin Offshore Port project, a deepwater …

Oil futures edged higher on Monday, extending gains on expectations of OPEC+ deepening supply cuts to shore up prices, which have fallen for four weeks on easing concern of Middle East supply disruption amid the Israel-Hamas conflict. Brent crude futures climbed 66 cents, or 0.8 per cent, to $81.27 a …

The third round of discharging treated radioactive water from the wrecked Fukushima No. 1 nuclear power plant into the sea concluded Monday, the plant operator said, with the utility planning another round in the current fiscal year. As in the previous rounds, Tokyo Electric Power Company Holdings (Tepco) released about …