International

Following a big push from the government and electric vehicle (EV) producers, the U.K. is expected to undergo a significant shift away from internal combustion (ICE) vehicles in favour of EVs in the coming years. This news comes despite lower-than-expected EV sales in the U.S. and Europe this year, which …

Bitcoin surged to a record high above $106,000 on Monday after U.S. President-elect Donald Trump suggested he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls, Reuters reports. Bitcoin , the world’s biggest and best known cryptocurrency, hit a …

The Construction MMI (Monthly Metals Index) held its sideways trend, dropping by a slight 1.09%. Despite a torrent of construction news, the index didn’t budge much month-over-month and had a minimal reaction to recent interest rate drops. The Fed will likely need to drop interest rates more aggressively for the …

China, the world’s heavyweight oil consumer, has officially hit its peak. According to CNPC’s Economics & Technology Research Institute, the country’s refined oil consumption maxed out in 2023 at 399 million metric tons (roughly 8 million barrels per day) and is set to decline by 1.3% in 2024. For an …

Fracking techniques perfected in the U.S. shale patch could help drill for deeper and hotter geothermal energy resources and slash geothermal costs to make this low-carbon energy source competitive to other clean energy solutions, the International Energy Agency (IEA) said on Friday. Recent advances in horizontal drilling and hydraulic fracturing, …

Crude oil production from all OPEC members rose by 104,000 barrels per day (bpd) in November compared to October, the organization’s Monthly Oil Market Report (MOMR) showed on Wednesday. Total OPEC-12 crude oil production averaged 26.66 million bpd last month, as output in Libya, Iran, and Nigeria increased, according to …

This year’s plunge in lithium prices has forced curtailments in production in China and Western Australia as lithium miners look to limit losses and reduce the oversupply hanging over the market and prices. However, the lithium glut has not gone away and the market could remain oversupplied until 2027, analysts …

Intraday power prices in Germany jumped and natural gas-fired electricity generation rose to a two-year high this week as low wind speeds continue to depress wind power output. Natural gas use for power generation rose on Wednesday to its highest level since December 2022, as a wider power supply gap …

China’s retaliatory export curbs might take a toll on the growing U.S. clean energy sector and its defense industry, analysts opined as trade tensions escalate between the world’s two biggest economies. Beijing announced this week it would ban exports of gallium, germanium and antimony to the United States, targeting materials …

Reuters has reported that OPEC oil production is up for the second month in a row in November with the recovery of Libyan production. The agency said that surveys showed the organization pumped 26.5 million barrels per day last month, an increase of 180 thousand barrels per day from last …