Energy Policy

Saudi Arabia’s Energy Minister, Prince Abdul Aziz bin Salman said the OPEC+ alliance will play a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel, Bloomberg reported. “We also have a role in taming and containing inflation, by making sure that …

Russia is considering proposing an OPEC+ oil-output increase at the group’s meeting next week because the nation sees a supply deficit in the market, according to officials familiar with the matter. Moscow expects the current global oil-output deficit to persist in the medium term, two officials said, asking not to …

The return of Iranian oil to the world market needs to be taken into account, but first, there has to be an understanding of the exact schedule and volume limits, Russian Deputy Prime Minister Alexander Novak told Sputnik. “Of course, this must be taken into account. Because it affects the …

The European Union (EU) is not going to reduce oil and gas imports from Russia, simultaneously keeping them from other sources, European Union’s High Representative for Foreign Affairs and Security Policy Josep Borrell told a press conference on EU-Russia relations on Wednesday, adding that Europe’s hydrocarbons consumption will go down …

Saudi Arabia is synonymous with oil, the EU is obsessed with renewable energy, and the U.S. is the world’s leading natural gas producer, but there are few countries pursuing all three of these energy sources with as much vigor as the UAE. While much of the West, encouraged by the …

Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far below capacity since 2018. Iran and the six powers have been in talks …

Iran’s ambassador to the International Atomic Energy Agency has criticised the director general of the International Atomic Energy Agency for what he called adopting a biased approach to interactions with Tehran. In a series of tweets, Kazem Gharibabadi said Rafael Grossi’s Monday reports on Iran’s nuclear program “ignore the level …

OPEC and its allies expect oil inventories to fall further in the coming months, OPEC’s secretary general said on Monday, suggesting efforts by the producers to support the market are succeeding. Oil stocks in developed world nations fell by 6.9 million barrels in April, Mohammad Barkindo said in a virtual …

Russian oil giant Rosneft PJSC warned of an impending shortfall in supply as global producers increasingly channel funds into a “hasty” energy transition. “The world risks a severe deficit of oil and gas,” Rosneft Chief Executive Officer Igor Sechin said Saturday at the St. Petersburg International Economic Forum. “The world …

The Organization of the Petroleum Exporting Countries oil cartel and allied producing countries (OPEC+) confirmed on Tuesday plans to gradually restore crude output by 2.1 million barrels per day (bpd). The decision was made in an online meeting earlier on Tuesday. Saudi Energy Minister Prince Abdulaziz bin Salman hailed a …