OPEC on April 13 raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market. Demand will rise by 5.95 million bbl/d in 2021, or 6.6%, OPEC forecast in …

Oil extended gains in early Asian trading after an industry report pointed to another decline in U.S. crude stockpiles that followed an upbeat assessment of the demand outlook from OPEC. Futures in New York rose 0.6% in New York after advancing 0.8% on Tuesday. The American Petroleum Institute reported crude …

The International Atomic Energy Agency said Tuesday it supports Japan’s decision to release treated radioactive water from the Fukushima nuclear plant into the sea and stands ready to provide technical assistance in monitoring the discharge. The U.N. nuclear watchdog reiterated that the water release is in line with international practice …

Iran’s ambassador to the International Atomic Energy Agency (IAEA) Kazem Qaribabadi emphasized on Monday that uranium enrichment at Iran’s Natanz Nuclear Complex has not been halted. Ambassador Qaribababdi who was speaking in a TV interview in Vienna stressed that the damaged IR1 centrifuges were replaced with machines capable of 50% …

Saudi Arabia will supply all the crude oil that was requested by India’s state-owned refiners and at least five other Asian customers next month as the linchpin producer starts to ramp up output. The kingdom will deliver in full what most of the refiners asked for in May-loading cargoes, while …

The United States warned Germany Monday that it is not willing to compromise on the dispute over the Nord Stream 2 gas pipeline project, which will carry Russian gas to Europe, German media reported. Washington’s new administration is “determined to use all available levers to prevent the completion of Nord …

Norway’s Equinor ASA has decided to stay in the American Petroleum Institute (API) after the major U.S. oil lobby group changed its stance on climate policy. However, Equinor has quit the Australian Petroleum Production and Exploration Association (APPEA) as the firm has wound down operations in Australia after giving up …

Russia is planning to increase its share in the global hydrogen market by 20% by 2030, and to increase annual exports of the fuel up to 33.4 million tons by 2050, Deputy Energy Minister Pavel Sorokin said on Monday. “It is still difficult to provide exact numbers, but we believe …

The liquefied natural gas tanker Vladimir Rusanov on April 6 left the Russian Arctic port of Sabetta and set course for Equinor’s Melkøya plant in Norway. It is the first time that natural gas from the Yamal Peninsula is sold to Norway and that a Yamalmax tanker sails with a …

U.S. Rig Count is up 2 from last week at 432 with oil rigs unchanged at 337, gas rigs up 2 to 93, and miscellaneous rigs unchanged at 2. U.S. Rig Count is down 170 rigs from last year’s count of 602, with oil rigs down 167, gas rigs down …