OPEC+ has delayed its decision on the extent of crude oil production increases, raising questions about the alliance’s capacity to coordinate production and highlighting disagreements about supply policies, according to Fitch Ratings. Earlier this week, OPEC+ postponed for a third time its meeting to finalise the decision on the next …

Oil prices rose for a second day on Friday as the market reacted to falling US inventories. Signs of strong Asian demand from both China and India also strengthened the market. Brent crude oil futures were up $1.49, or 2%, at $75.60 a barrel by 1:12 p.m. ET (1712 GMT). …

China’s ambitious goal of replicating North America’s shale revolution will change the dynamics of the global liquefied natural gas (LNG) market to the benefit of gas importers in the Arabian Gulf. Last week China took a big step towards opening up its vast gas reserves with a deal struck between …

Oil prices rose on Friday over rising demand euphoria after US crude and gasoline oil inventories recorded huge falls although the lack of consensus at the latest OPEC+ meeting is leaving oil markets without direction. International benchmark Brent crude was trading at $74.48 per barrel at 0752 GMT for a …

The European Union (EU) will support energy transition in the Eastern Parnetship (EaP) countries, as it has launched the second phase of its EU4Energy program – “Promoting the Clean Energy Transition in the Eastern Partnership Countries: EU4Energy Phase II, Trend reports with reference to the European Commission. The Program, which …

The International Monetary Fund said on Thursday Saudi Arabia’s economy is recovering well from the COVID-19 pandemic and the fund expected the non-oil economy to grow by 4.3 percent this year, with overall GDP growth seen at 2.4 percent. Real oil GDP is expected to shrink by 0.4 percent, the …

Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were headed for a weekly loss amid uncertainty about global supplies fuelled by an OPEC+ impasse. Brent crude oil futures were up 27 cents, or 0.4%, at $74.39 a barrel by 0644 …

Russia is leading efforts to close divisions between Saudi Arabia and the United Arab Emirates to help strike a deal to raise oil output in coming months, three OPEC+ sources said, with OPEC and its allies yet to set a date for their next oil policy meeting. Disagreement between the …

China will launch a nationwide carbon emissions trading scheme for the electricity sector in July, the cabinet said on Wednesday. The launch of the scheme aims to control and reduce greenhouse gas emissions viA THE market scheme, according to a meeting chaired by Premier Li Keqiang.

There’s a lot of buzz going around about green hydrogen. It’s virtually emissions-free, it burns hot enough to replace combustible fossil fuels, and when it combusts it leaves behind nothing but water vapor — a seeming silver bullet for the clean energy industry. Not only can it be used to …