OPEC+ is poised to stick to its oil output targets when it meets on Sunday, four OPEC+ sources said as the alliance gathers after the Group of Seven (G7) nations agreed a price cap on Russian oil. OPEC+, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies …

The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day. The EU agreed the price after holdout …

Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force. The 13-member Organization of the Petroleum Exporting Countries (OPEC) is due to consult with 10 other oil-producing nations, including Russia, …

Germany’s plans to start imports of liquefied natural gas this month are at risk of being derailed by the weather. Strong wind, freezing temperatures, high waves — or a combination — have already interrupted some works on its first terminals, and could delay some of the projects due to launch …

Ukraine on Saturday welcomed a $60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would “destroy” Russia’s economy. The price cap, previously negotiated on a political level between the G7 group of wealthy democracies and the European Union, will come into effect with an …

The white containers on the edge of a small Belgian town form the largest electricity storage plant in continental Europe, capable of meeting peak demand in the country without the need for gas or fuel oil. “Until now, the capacity to produce quickly was largely provided by oil or gas-fired …

Commodities transited from Customs of Iran’s Kermanshah have seen a four-fold hike during 8 months, according to a provincial customs official. The head of the Kermanshah Customs Administration said that customs in the province have witnessed revenue of around 359.4 billion tomans in the eight months of this year. The …

Referring to Iran’s compensatory measures in response to the recent BoG anti-Iran resolution, IAEA chief Grossi said that the IAEA-Iran ties need to get back on track. “We don’t seem to be seeing eye-to-eye with Iran over their obligations to the IAEA,” Director-General of the International Atomic Energy Agency (IAEA) …

India said that it would continue to purchase Russian crude oil even after the embargo and price cap go into effect on December 5, an official in the Indian Oil Ministry said on Friday. India has consistently stated its intention to continue to purchase whatever crude oil makes the most …

With only 3 days to go until the EU ban on Russian seaborne crude imports gets implemented, Russian oil producers are going against all expectations and have actually ramped up production in recent weeks, according to some accounts. On October 5th, the group of oil producers known as OPEC+ agreed …