International

Amid a wall of screens in the control room of Equinor ASA’s Johan Sverdrup oil field in the North Sea ticks a tally of the day’s oil production — and a measure of Norway’s growing importance to Europe’s energy security. On Feb. 13, that figure hovered around 720,000 bpd. “By …

OPEC has raised its 2023 forecast for global oil demand growth in its first upward revision for months, citing China’s relaxation of COVID-19 restrictions and slightly stronger prospects for the world economy. Global oil demand will rise this year by 2.32 million barrels per day (bpd), or 2.3%, the Organization …

India’s love for discounted Russia oil is widening its trade deficit with Moscow and the casualty is their much-touted rupee trade plan. The gap between their exports and imports is rising and that’s making the local currency payment mechanism futile, people familiar with the matter said, asking not to be …

The bill for European countries to protect households and companies from sharply rising energy costs has reached nearly 800 billion euros, researchers from the Bruegel think tank reported. They urged countries to spend more efficiently to deal with the energy crisis. The countries of the European Union have already set …

NATO should hold an emergency meeting to discuss recent findings about September explosions at the Nord Stream gas pipelines, Russia’s Foreign Ministry spokeswoman Maria Zakharova said late on Saturday. Investigative journalist Seymour Hersh, who won a Pulitzer Prize in 1970, said in a blog post on Wednesday, citing an unidentified …

OPEC expects oil demand to exceed pre-pandemic levels in 2023, reaching almost 102 million barrels a day, the group’s secretary-general Haitham Al Ghais said on Sunday. Demand is projected to further rise to 110 million barrels per day by 2025, he said. “OPEC remains committed to supporting oil market stability,” …

The Kremlin said on Thursday the world should know the truth about who sabotaged the Nord Stream gas pipelines and that those responsible should be punished after an investigative journalist said U.S. divers blew them up at the behest of the White House. A sharp drop in pressure on both …

The Russian oil price cap mechanism is still meeting its objectives, a G7 price cap coalition official told Reuters on Friday. Any Russian production cuts that may be forthcoming will disproportionately hurt developing countries, the G7 official added. Earlier on Friday, Russia announced a 500,000 bpd crude oil production cut—crude …

The OPEC Fund for International Development (the OPEC Fund) and Africa Finance Corporation (AFC) have signed a $50m loan agreement to finance the development of infrastructure critical to economic growth and job creation across the continent. The proceeds of the ten-year loan will be used to improve connectivity, transport, logistics, …

The two massive earthquakes that devastated a large area of southern Turkey and northern Syria on February 6 are causing problems for Azerbaijan’s oil exports. Crude exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline and Turkey’s main oil terminal at Ceyhan have been halted with no clear indication what the problem is …