International

Russia’s crude oil production was down in July compared to June, the Russian Energy Ministry said on Friday, and more cuts are coming. Russia’s oil production came in at 67,000 bpd above its quota for July, but was down in July compared to June due to “one-off supply scheduling issues”. …

As the world turns to cleaner energy solutions, hydrogen power has been put into the spotlight. In a significant showcase of its potential, China-manufactured hydrogen refueling equipment has played a pivotal role at the 2024 Paris Olympic Games. These installations are now the energy source for hydrogen vehicles transporting athletes …

Libya’s National Oil Corporation (NOC) has declared force majeure at the Sharara oilfield, after protests halted production at the country’s largest field earlier this week. Considering the current circumstances at Sharara that prevented NOC from carrying out crude oil loading operations, the state oil company of Libya declared force majeure …

The U.S. Department of Energy (DOE) is continuing its efforts to bolster the depleted Strategic Petroleum Reserve (SPR) with new oil purchases. Today, DOE’s Office of Petroleum Reserves announced a call for bids to supply up to 1.5 million barrels of oil to the Bayou Choctaw site in January 2025. …

The biggest European car market, Germany, saw the sales of electric vehicles plummet by 36.8% in July from a year earlier, as EV sales are softening worldwide and as Berlin ended subsidies at the end of 2023. New car registrations of battery vehicle vehicles (BEVs) in Germany slumped to 30,762 …

U.S. electric power plants held a total of 138 million short tons of coal at the end of May, the highest level since the slump in power and coal demand at the start of the pandemic in early 2020, the U.S. Energy Information Administration (EIA) said on Monday. In recent …

U.S. oil production dipped by 61,000 barrels daily in May, the EIA reported this week, confirming what many already expected: continued stringent discipline among drillers. But those expectations may have been misleading because now some producers are planning output boosts—thanks to cost reductions. Last year, shale drillers surprised pretty much …

The property sector crisis and the rise of LNG use in trucking have weighed on China’s diesel demand this year, dampening the prospects of oil demand growth in the world’s top crude importer, which has been a key driver of global demand growth for years. Diesel demand in China is …

Demand for critical minerals such as copper, cobalt, lithium and nickel is soaring. These raw materials are used in a range of new technologies, from electric cars to wind turbines, which are becoming ever more important as the world moves towards a green transition. Experts forecast that this trend is …

Russia’s oil industry has slowed drilling activity this year from the record highs seen in 2023, as Moscow is limiting production as part of the OPEC+ deal and working to boost its compliance rate. In the first half of 2024, rigs employed by Russian oil companies drilled a total of …