International

Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al-Saud said that oil was not discussed at a U.S.-Arab summit held on Saturday, and that OPEC+ would continue to assess market conditions and act as necessary. “There was no oil discussion at the summit,” Prince Faisal told a news conference, adding …

The U.S. said it expects further oil supply increases from Saudi Arabia after President Joe Biden met with Saudi Arabia’s Crown Prince Mohammed Salman. The White House on Friday welcomed the increase in production levels 50 percent above what was planned for July and August. It added these and other …

Japan will seek to maintain its stake in the Sakhalin-2 natural gas project in Russia’s far east, the Nikkei newspaper said, after President Vladimir Putin signed a decree transferring rights to a new Russian company just over two weeks ago. The decree gave stakeholders a month to say whether they’ll …

The number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 756 this week—272 rigs higher than the rig count this time in 2021. Oil rigs in the United …

Maintenance on the Nord Stream 1 pipeline may well persist beyond its scheduled end-date next week but will likely resume operations by the end of next month, analysts said on Wednesday. The key gas conduit – between Russia and Germany – began 10 days of annual maintenance on Monday, but …

OPEC expects global oil demand to rise in 2023 but at a slower pace than 2022, the producer group said in its first forecast for next year, citing still-robust economic growth and progress in containing COVID-19 in China. In a monthly report on Tuesday, the Organisation of the Petroleum Exporting …

Germany will stop buying Russian coal on 1 August and Russian oil on 31 December, Deputy Finance Minister Jörg Kukies said at a conference in Sydney, Reuters reported. Kukies said the key challenge going forward will be filling the huge gap that will remain when the European Union gives up …

Japan may ask households and businesses to cut back on natural gas use on the back of concerns that increase in global competition for the precious fuel will disrupt stable supply. A panel within Japan’s trade ministry called for discussion to create a framework that would allow the government to …

In June, the European Union imported more liquefied natural gas from the United States than pipeline gas from Russia for the first time ever. The unprecedented shift came as the EU scrambled to fill up its gas storage facilities ahead of the next heating season in fear Russia could turn …

India’s oil imports from Russia surged to a record of around 950,000 barrels per day (bpd) in June, accounting for nearly a fifth of overall imports by the world’s third largest oil consumer, data provided by trade sources showed. Indian refiners have been snapping up Russian oil sold at hefty …