As OPEC+ began talks on whether to postpone January’s oil-production increase, ministers sounded cautious about the strength of global demand. Saudi Energy Minister Prince Abdulaziz bin Salman said he could see a light at the end of the tunnel thanks to the development of Covid-19 vaccines, but the market had …

In the U.S. Energy Information Administration’s (EIA) November Short-Term Energy Outlook (STEO), EIA forecasts that U.S. crude oil production will remain near its current level through the end of 2021. A record 12.9 million barrels per day (b/d) of crude oil was produced in the United States in November 2019 …

OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a tighter supply policy next year. “For 2021, oil demand is expected to grow by 6.2 million barrels per day, year …

Libya’s warring sides have agreed to unify forces that protect oil facilities following the United Nations-sponsored talks with the head of the country’s National Oil Corporation (NOC). The talks were held on Monday in Brega, part of the coastal area known as the Oil Crescent. “Today in this historic location, …

Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year. The state energy firm is raising debt after slumping crude prices caused profit to fall by 45% in the third …

OPEC and its allies discussed weaker compliance with pledged oil output cuts on Monday and weighed further action to support the market as the second wave of coronavirus hits demand. The Organization of Petroleum Exporting Countries, Russia and others, known as OPEC+, were due to raise output by 2 million …

Energy giant Saudi Aramco said Monday it had hired banks to sell dollar-denominated bonds, to boost finances as the coronavirus pandemic weighs heavily on global demand for crude oil. This comes two weeks after the company, seen as Saudi Arabia’s main cash cow, posted a 44.6 percent slump in third-quarter …

NASA and the U.S. Department of Energy will seek proposals from industry to build a nuclear power plant on the moon and Mars to support its long-term exploration plans. The proposal is for a fission surface power system, and the goal is to have a flight system, lander and reactor …

Iran has treaties with neighbor countries in terms of using border water sources that should be respected, said Iranian Minister of Energy. “Iran’s water right in Helmand River is part of these international treaties and Afghanistan is committed to it and hopefully any water (dam)structure in Helmand River should be …

A new cargo port with coal, oil, gas and bunker terminals will be built in Russia’s Sakhalin, according to the press service of the regional government. The construction of the facility is expected to start in 2022. The new multifunctional cargo port will be located on the border of the …