The euro area is currently experiencing its fourth COVID wave with infection rates that clearly exceed the previous waves, particularly, in countries where the vaccinated share of the population is rather low. In September, excess mortality had already increased by 12% compared with the years 2016-2019. To date, Southern European …

The United States is “turning to China for help” to cool inflation by releasing some of its oil reserves, the state-backed Global Times said in an editorial on Wednesday (Nov 24), adding that the move will benefit everyone but China “has the upper hand”.” Washington has asked some of the …

US President Joe Biden has today announced that the Department of Energy will make available releases of 50 million barrels of oil from the country’s strategic petroleum reserve to lower gas prices. Last week, Mr Biden asked the Federal Trade Commission to investigate possible wrongdoing of oil and gas companies …

Oil was steady after the biggest gain in two weeks following an announcement by the US of a coordinated release of strategic petroleum reserves (SPR) with other countries that fell short of expectations. Futures in New York traded above $78 a barrel after climbing 2.3% on Tuesday. The US will …

The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the U.K — an unprecedented, coordinated attempt the world’s largest oil consumers to tame prices that could prompt a backlash by OPEC+. Of that amount, 32 million …

Russian President Vladimir Putin plans no top-level international contacts for discussing the situation on the global oil market so far, Kremlin Spokesman Dmitry Peskov told reporters on Tuesday. “No, the president has no [such plans],” he said when asked a respective question. When asked to comment on statements made by …

The United Arab Emirates said there was no need for OPEC+ to increase oil production any faster, despite pressure from major consumers such as the U.S. and Japan for the group to help ease gasoline prices. “There is no logic to increasing our contribution,” UAE Energy Minister Suhail Al-Mazrouei said …

The Kremlin said on Tuesday that Russia remained committed to fulfilling its OPEC+ obligations and that President Vladimir Putin had no plans to contact OPEC+ partners despite talk of key consumer countries releasing their strategic oil reserves. The United States is expected to announce a loan of crude oil from …

Russia on Tuesday said further sanctions imposed by the United States related to the Nord Stream 2 gas pipeline were “illegal and wrong,” especially at a time when Moscow and Washington are attempting to rebuild a dialogue. The United States has imposed further sanctions in connection with the Nord Stream …

The Head of the Iranian Atomic Energy Organization (AEOI) Mohammad Eslami met and held talks with the IAEA Director-General Rafael Grossi in Tehran. The IAEA Chief Rafael Grossi who arrived in Tehran on Monday night met with the Head of the Iranian Atomic Energy Organization (AEOI) Mohammad Eslami on Tuesday …