Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) bumped up its 2020 demand forecast but record-breaking new coronavirus cases in the United States tempered expectations for a fast recovery in fuel consumption. Prices also found support after data showed U.S. energy firms cut the …

As lower oil prices and a coronavirus-driven downturn batter Iraq’s economy, availability of safe water is eroding and could fuel greater tensions, security experts warned on Wednesday. Hospitalisations due to worsening contamination from sewage, agricultural runoff and chemical dumping are high, especially in southern Iraq, and families now reliant on …

US commercial crude oil stocks increased against the market expectation of a fall last week, according to data released by the country’s Energy Information Administration (EIA) on Wednesday. Commercial crude oil inventories in the US rose by 5.7 million barrels, or 1.1%, to 539.2 million barrels for the week ending …

Headlines are currently screaming at readers: “Oil markets starved of essential Russian and Saudi barrels.” And yet, only a few weeks ago the world was awash with Saudi and Russian oil as global demand tanked because of the coronavirus disease (COVID-19) pandemic. The US president appealed to the two biggest …

A Russian vessel capable of completing the pipelaying for the Gazprom-led Nord Stream 2 natural gas pipeline project left a German port on Wednesday and entered Danish waters where the last section of the controversial pipeline has yet to be completed. According to vessel-tracking data from Refinitiv Eikon cited by …

In Indonesia, the Ministry of Energy has partnered with the International Energy Agency (IEA) to accelerate the uptake of renewable energy in the country. The ministry and IEA are partnering with utility PT Perusahaan Listrik Negara (PLN Persero) to launch a new joint project on electricity and renewable energy. The …

US natural gas consumption is forecast to fall 3 percent this year from fewer drillings due to the coronavirus pandemic and demand could decline as much as 5 percent in 2021, the Energy Information Administration said in its July outlook. “EIA expects US natural gas consumption will decline by 3% …

When the bottom fell out of international crude oil markets earlier this year, global oil storage was at a premium. In the United States, finding sufficient crude oil storage became such a challenge that the West Texas Intermediate crude benchmark plummeted below zero on April 20, ending the day at …

Libya will export two oil cargoes totaling 1.2 million barrels in July — a third less than in June — as forces opposed to the Tripoli-based government continue to block shipments from most of the OPEC member’s ports. The Bouri and Farwah terminals will each ship one cargo of 600,000 …

Danish Energy Agency on July 6 gave Nord Stream 2 permission to use pipe laying vessels with anchors to complete the final stretch of the gas pipeline in Danish waters, allowing the company to restart work on the pipeline from Russia to Germany that was hit by US sanctions. Nord …