The International Energy Agency has revised down its forecast for oil demand growth this year, due to “persistent macroeconomic headwinds”, but it still expects global consumption to reach a record 102.1m bbl/day. The Paris-based intergovernmental organisation estimated global oil demand would grow by 2.2m bbl/day in 2023, down from its …

Kyrgyzstan remains among the five countries in the world with the lowest prices for liquefied petroleum gas (LPG) as of mid-2023, Trend reports. According to the Global Petrol Prices, the average price of LPG in Kyrgyzstan was $0.34 per liter from March 27, 2023, through July 3. The prices remained …

The International Atomic Energy Agency (IAEA) does not have the competence to advise Japan on where to dispose of wastewater from the Fukushima Daiichi nuclear power plant, IAEA Director General Rafael Mariano Grossi said on Tuesday. On a visit to the Cook Islands, where he briefed the Pacific Island Forum …

Oil prices extended their gains on Thursday after breaching the $80-mark for the first time since April, as a sharp cooling in US inflation sparked hopes that the US Federal Reserve will ease off from further aggressive interest rate increases. Brent, the benchmark for two thirds of the world’s oil, …

Iraq’s parliamentary oil and gas committee plans to increase the country’s oil production to more than five million barrels per day, according to the release of committee minutes last week. As analysed in full in my new book on the new global oil market order, not only could this be …

The OPEC+ production cuts are beginning to impact oil prices, Goldman Sachs’ Jeff Currie told CNBC on Tuesday. “What we’ve been waiting for for six months is finally beginning to play out,” Currie said when asked if we’re starting to see the beginnings of the bull case for oil. “Inventories …

Azerbaijan’s promise to double its annual gas exports to Europe by 2027 may be a step closer to realization with the news that BP has found new gas reservoirs beneath its existing Azeri–Chirag–Gunashli oil field (ACG) in the Caspian Sea. BP has confirmed to Eurasianet that the appraisal well it …

Qatar this year will sign record volumes of long-term liquefied natural gas (LNG) offtake contracts, the country’s energy minister said on Tuesday at a conference in Vancouver. About 40% of new global LNG output will come from Qatar by 2029, said Minister of Energy Saad al-Kaabi at the LNG 2023 …

China approved on Tuesday proposals that would transform its oil, gas, and power markets, CCTV has reported. Under the proposals, China will construct a new power system intended to be “economically efficient, flexible and intelligent in supply and demand coordination,” the Chinese Communist Party’s commission for deepening reports said. Currently, …

Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday. Oil executives and officials from the Organization of the Petroleum Exporting Countries (OPEC) have repeatedly made the case for continued …