International

Gazprom, apart from limiting gas transit to Europe via its export gas pipelines, is also persistently emptying the European gas storage facilities under its control. This is leading to historically high gas prices on the European market, and is a harbinger of a crisis in the coming heating season. Record …

The United States will see its total natural gas exports exceed imports by a significantly larger margin this year compared to 2020, thanks to surging liquefied natural gas (LNG) exports and continued growth in pipeline exports to Mexico, the Energy Information Administration (EIA) said on Monday. This year, U.S. natural …

Russia is on course to smash its current monthly oil and condensate production record of 11.5M barrels per day (b/d), set in December 2018. The underlying factors are the OPEC+ coalition’s recent agreement to steadily raise oil production and new sources of Russian crude oil, reported oil analyst and consultancy …

OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months despite US pressure to add more crude to arrest an oil price rise, four sources told Reuters. “I don’t think there is a need (for extra oil …

Qatar is forecast to post a “strong growth rebound” with LNG demand in South and East Asia underpinning medium-term prospects, World Bank said in its Gulf Economic Update (GEU). Qatar’s economy is projected to grow by 3% in 2021 before accelerating to 4.1% in 2022 and 4.5% in 2023, World …

Germany is projected to record greenhouse gas emissions this year since 1990 as the economy recovers from a downturn, according to a report by the environmental think tank. Berlin-based Agora Energiewende said the country’s emissions are likely to rise by the equivalent of 47 million tons of carbon dioxide. This …

India aims to wind down energy imports in the next 25 years and invest 100 trillion rupees ($1.35 trillion) in infrastructure to boost economic growth, Prime Minister Narendra Modi said Sunday, laying out national priorities on the country’s 75th Independence Day. “For India to be self-reliant it is imperative that …

U.S. imports of crude oil from Iraq averaged 120,000 barrels per day (bpd) last week, the Energy Information Administration (EIA) said on Sunday, despite a slight decrease in its appetite during the same period. In its weekly report on U.S. oil imports, EIA Said that the U.S. imports averaged 5.423 …

OPEC+ is unlikely to respond with increased production to the U.S. calls amid the surging Delta variant, which is set to dampen short-term oil demand, Goldman Sachs says. Earlier this week, the White House called on the OPEC+ group to increase oil production more than they had planned in order …

US President Joe Biden’s calls for OPEC+ to pump more oil may be short-lived as political pressure eases along with gasoline prices over the coming months. US gasoline prices rose 2.4 percent in July from the previous month, taking their 12-month advance to 41.8 percent, according to inflation data. The …