Energy Policy

OPEC+ delegates expect the group’s monitoring session next month to be routine, making no changes to plans for a supply hike starting in the fourth quarter. The group led by Saudi Arabia and Russia agreed last month to begin gradually restoring roughly 2.2mn barrels a day of halted crude output …

Russia plans to make extra crude production cuts to compensate for pumping above its OPEC+ quota in the warm seasons of this year and next, according to people with knowledge of the matter. Moscow’s additional curbs will most likely happen in summer and early fall for technological reasons, said the …

Energy will remain expensive in the European Union even under a best-case net-zero scenario, the bloc’s business association, BusinessEurope, has warned. According to a study by the association, electricity prices in the European Union would be at least 50% higher than the same prices in the United States and China …

The World Bank will give India $1.5 billion to finance a second operation to help accelerate the development of low-carbon energy. This is the second operation which is being supported by the World Bank and cleared by the executive directors’ board. The first tranche of $1.5 billion was sanctioned in …

Iran’s economic growth in the previous Iranian calendar year (March 21, 2023 to March 19, 2024) with/without oil included increased 4.5 percent and 3.6 percent respectively. According to the preparatory calculations of the Economic Accounts Department of the Central Bank of Iran (CBI), the gross domestic product (GDP) to the …

In the 1990s and 2000s, the world regularly saw column inches devoted to the theory of peak oil supply, amplified by voices like Colin Campbell and Matthew Simmons. Decades later, however, it has still not come to pass, as enhanced economics and constant improvement in technology have helped lower costs …

It is possible to resume production from the wells through the production of artificial lift pumps in Iran throughout the country and installing them on old wells, the production of which has been reduced, Iran’s Persia Oil and Gas Development Company Jaafar Hejazi said, Trend reports. According to him, these …

OPEC saw its crude oil production decline by 48,000 barrels per day (bpd) in April compared to March, the organization’s monthly report showed two weeks before the crucial meeting at which the wider OPEC+ group is set to decide on production levels after June. Total crude oil production of all …

As the global oil market eagerly anticipates the upcoming OPEC(+) production decision—a potential shift in the current production cut strategy—most eyes are on Saudi Arabia or Aramco leaders. However, there’s a new player in town, already hinting at a dramatic strategy change without OPEC’s approval. Sources in Abu Dhabi suggest …

The OPEC+ group is firmly back in control of the oil market and has the power to have it extremely tight in the second half of the year should it choose to do so, industry executives and hedge fund managers say. The market is growing increasingly bullish on oil, expecting …