Natural gas fluctuated as the European Union pushed on with its market intervention to ease the worst energy crisis in decades, but the plans are unlikely to include a cap on prices of imported fuel. Benchmark futures gave up most of an earlier decline of as much as 4.9 per …

OPEC raised its August oil production by 618,000 bpd, according to the group’s Monthly Oil Market Report published on September 13. According to OPEC’s secondary sources, OPEC raised its production to 29.651 million bpd, with the largest increases coming from Libya and Saudi Arabia. Libya’s oil production has been severely …

Strong activity in China pushed global wind turbine order intake to 43 gigawatts in quarter two of 2022, according to new analysis from Wood Mackenzie. The high number of orders marks a new record, and up 36 percent from year-ago levels. This equates to an estimated $18.1 billion. According to …

Oil prices eased on Tuesday, reversing earlier gains, as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week. Brent crude was down 80 cents, or 0.9%, to $93.20 a barrel at 1254 GMT, while WTI crude …

Italian Minister for Ecological Transition Roberto Cingolani said the European Union should introduce a cap on gas prices for exporters across the board as targeting Russia’s dwindling gas exports to Europe “makes no sense.” “Capping only Russian gas makes no sense. It is currently delivered to Europe in very small …

Türkiye has been affected by the energy crisis, yet in contrast to Europe, it is not expected to face any disruptions this winter as long as gas suppliers follow through on their pledges, the country’s energy chief said on Saturday. Fears in Europe have increased over a potentially bleak winter …

India says Russian oil now accounts for 12% of its overall purchases of the commodity, with the ratio surging six-fold in the past few months, as Asia’s third-largest economy seeks to slow inflation back to target. “We speedily ramped up Russian oil imports from 2% to 12%,” Finance Minster Nirmala …

In response to a growing clamour among the G7 nations to cap the price of crude oil imports from Russia, Moscow has told New Delhi it is willing to provide oil at lower prices than before to India, officials said. “In principle, the ask in return is that India should …

Germany is increasingly getting vital chemicals from abroad as the country’s industrial giants like BASF SE struggle with sky-rocketing energy prices from Russian gas cuts. Chemical import volumes have almost doubled this year as the crisis deepened. Germany imported around 2.8 billion tonnes of inorganic chemicals in the first half …

Meaningful reform in the European Union has historically taken a crisis, and this winter seems ripe for energy policy. As with the euro crisis a decade ago, though, a quick political compromise could risk leaving the job half done. The EU’s energy ministers held an emergency meeting Friday to agree …