Crude oil prices tumbled on Monday, as investors waited for a decision by producer group OPEC+ whether to extend large output cuts to balance global markets, but vaccine hopes helped keep benchmarks on track to rise more than a fifth in November. January Brent crude futures, which will expire later …

China plans to exploit the hydropower resources of a Tibetan section of a river that is a key source of water to Bangladesh and India, the Global Times reported. China’s next five-year plan calls for developing hydropower on the Yarlung Tsangpo River, Mr Yan Zhiyong, chairman of Power Construction Corp …

Crude oil prices fell on Monday amid investor jitters ahead of a meeting of producer group OPEC+ to decide whether to extend large output cuts to balance global markets, but vaccine hopes helped keep them on track to rise more than a fifth in November. January Brent crude futures, which …

Over the past month the oil industry — which some had declared dead after the crushing losses earlier in the year — has gone on an impressive rally. ExxonMobil shares are up 27% in one month. Chevron has risen 37%. Royal Dutch Shell shares are up 60%. ConocoPhillips is up …

Energy ministers from the OPEC+ alliance of oil producers are considering whether or not to extend historic cuts to crude output for a further period, in view of global uncertainties about demand, as COVID-19 cases surge worldwide. Policymakers from the 23 OPEC+ grouping – led by the two biggest producers …

Iraq isn’t seeking exemption from OPEC+ production cuts because it does not want crude prices to drop, Alsabaah newspaper reported Nov. 29, citing the country’s oil minister Ihsan Ismaael. Oil ministers are set to meet Nov. 30-Dec. 1 to discuss a potential delay in plans to increase output as of …

OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years, the U.S. shale boom won’t be at the top of the list. The global coronavirus pandemic continues to play havoc with the world’s economic sector, and oil prices …

Russia’s Nord Stream 2 said on Saturday it planned to resume pipe-laying work on a 2.6 kilometre (1.62 mile) stretch of the stalled Moscow-backed gas pipeline to Europe in Germany’s Exclusive Economic Zone. The 1,230 km pipeline under the Baltic Sea, which Moscow hopes will boost the amount of gas …

Secretary-General of OPEC Mohammad Sanusi Barkindo said investment in the global oil industry dropped by nearly 30 percent this year, even more than in the 2014-2016 downturn, from which the industry was still recovering when COVID-19 struck. “The oil industry requires $12.6 trillion in investment to reduce volatility and avoid …

OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years the shale boom won’t be at the top of the list. A devastating global pandemic and a reckoning with Wall Street appear to have broken the resolve of …