European natural gas prices have been on the slide for several days now as an early start of summer combines with ample LNG supplies to quench supply worries. According to a Bloomberg report, natural gas prices in Europe have been on the decline for five days now as demand eases …

Japan on Tuesday called on households and companies to conserve as much electricity as possible this summer, seeking to prevent blackouts as spare reserve capacity is expected to drop to critically low levels. The nationwide energy-conservation effort will be implemented from July 1 to September 30, amid concerns that Japan’s …

Director of the Middle East and Central Asia Department at the International Monetary Fund Jihad Azour indicated that the expected MENA GDP growth is 5%, but masks “important differences across countries with oil exporters upgraded.” According to the International Monetary Fund in its latest Middle East and Central Asia Regional …

Iran continued to export more than one million barrels of oil per day (bpd) in the two first months of new Iranian calendar year (March 21 – May 21). The Oil Ministry of the Islamic Republic of Iran has announced that thanks to the boost of oil revenues, the administration …

Saying that issuing an anti-Iran resolution at IAEA BoG is very counterproductive for the JCPOA, the Russian envoy to International Organizations stressed that Russia will not associate itself with such a resolution in anyway. The International Atomic Energy Agency (IAEA) Board of Governors meeting in Vienna began on Monday, with …

At a time when the global crude oil market is facing tight supplies, the revival of demand from China following the relaxation of Covid restrictions helped oil futures to trade higher on Tuesday morning. At 10.04 am on Tuesday, the August Brent oil futures were at $120.22, up by 0.41 …

US President Joe Biden has blamed Russia for another crisis, saying his country might not be able to generate enough electricity to meet consumer demand. He partially blamed the ongoing conflict in Ukraine. Biden declared an energy emergency on Monday, saying national security and quality of life are jeopardized by …

Russian Foreign Minister Sergei Lavrov on Saturday said Western sanctions would have no effect on the country’s oil exports and predicted a big jump in profits from energy shipments this year. “Considering the price level that has been established as a result of the West’s policies, we have suffered no …

Two oil companies could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on Venezuela. The volume of oil that Italian oil company Eni SpA and Spain’s Repsol Sare expected …

U.S. crude oil imports from Iraq averaged 294 thousand barrels per day (bpd) in May, the Energy Information Administration (EIA) said in its monthly report. According to the report, May imports from Iraq amounted to 9.114 million barrels, up from 5.52 million barrels (average 184 bpd). Iraq’s oil exports to …