Global oil market will rely more on the Middle East as U.S. shale oil production is expected to continue to fall, said Chris Midgley, global head of analytics with S&P Global Platts, on Friday. U.S. shale oil production will fall by 900,000 barrels per day in 2020 and drop another …

Libya’s daily oil production has risen to around 500,000 barrels, according to people familiar with the situation, as the war-battered nation restarts its energy industry after a truce. Sharara, the country’s biggest oil field, is pumping roughly 110,000 barrels a day, according to two people with knowledge of the situation, …

One key theme of the 9th annual LNG Producer-Consumer Conference—held by Japan’s Ministry of Economy, Trade and Industry (METI) and the Asia Pacific Energy Research Centre (APERC) on 12th October 2020—was the role of LNG in tackling the global climate challenge. Japan is seeking opportunities to use its position as …

OPEC and its allies fear a prolonged second wave of the COVID-19 pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a gloomier outlook than just a month ago. A panel of officials from OPEC+ …

The European Union is considering binding standards for natural gas to limit emissions of methane, the second-largest contributor to global warming after carbon dioxide. The 27-member bloc is the world’s biggest importer of gas, and imposing such standards could affect its major suppliers, which include Russia and Norway. Published on …

The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC’s secretary general said on Thursday, adding that demand has been recovering more slowly than expected. “I want to assure you that the OPEC, non-OPEC partnership will …

The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC Secretary General Mohammad Barkindo said on Thursday. He was answering a question about whether there was room in for a planned increase in oil output from …

Every month OPEC (Organization for the Petroleum Exporting Countries) releases a report on the oil industry and the overall OPEC oil price and trend evolution. The report of this October showed the price of oil remained glued to the $40 level for several months now. In all, OPEC now sees …

Islamic Republic of Iran and Qatar stressed the need to develop and expand bilateral ties on a series of mutual interests. Iranian Minister of Energy Reza Ardakanian and Qatari Minister of Commerce and Industry Ali bin Ahmed Al Kuwari held talks on Tue. through videoconference. In this online meeting, the …

Russian Energy Minister Alexander Novak said on Wednesday he had invited other BRICS countries – Brazil, India, China and South Africa – to take part in joint oil and gas projects in the Arctic. In a speech at a meeting of energy ministers from the group of major emerging economies, …