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Morgan Stanley expects Brent crude price to rise to about $110 a barrel by md-2023, supported by demand recovery and continued supply tightness. “We remain constructive on oil prices driven by recovering demand with the reopening of China’s economy and the recovery of the aviation sector,” the US investment bank …

Europe is bringing in diesel cargoes from around the world at close to a record pace ahead of the coming ban on shipments from its biggest external supplier. In the first 10 days of this month, the UK and European Union imported more than 16 million barrels of diesel-type fuel …

Oil consumption in China, India, and the Middle East has surprised to the upside in recent weeks, prompting the International Energy Agency (IEA) to revise up its oil demand growth forecast for both this year and next. Despite an expected fourth-quarter contraction of global oil demand by 110,000 barrels per …

Oil prices fell on Thursday as the possibility of further interest rate increases offset growing optimism over China’s demand outlook. Brent, the benchmark for two thirds of the world’s oil, was trading 0.56 per cent lower at $82.24 at 10.17am UAE time. West Texas Intermediate, the gauge that tracks US …

Ukrainian Prime Minister Denys Shmyhal said an agreement on moving heavy weapons from Ukraine’s Zaporizhzhya nuclear power plant is still being worked out but said a decision had been made to send IAEA teams to all Ukrainian nuclear power plants. There are no specifics yet, Shmyhal said on December 13 …

Lower oil prices and steeper discounts for Russian oil sent Russia’s oil revenues down in November despite the highest export volumes since April this year, the International Energy Agency (IEA) said on Wednesday. Last month, total oil exports out of Russia rose by 270,000 barrels per day (bpd) from October …

China will stop collecting and reporting comprehensive Covid case data after it ended mandatory testing for the virus. The move comes amid a general relaxation of Covid-related restrictions as Beijing adjusts its zero-Covid policy following a wave of protests against the restrictions in large Chinese cities. Bloomberg reports from now …

The energy ministers of the 27 European Union member states are holding an emergency meeting in Brussels on Tuesday to try to reach an agreement over capping the price of natural gas to shield customers and businesses from spikes in prices. Early on Tuesday before the meeting, the EU was …

The IEA and Ukraine today signed a two-year joint work program to help the country’s energy system recover from the destruction caused by Russia’s invasion and lay the foundations for its transition to a secure and sustainable energy future. The agreement was signed at the IEA’s Paris headquarters following a …

China is set to overtake the European Union (EU) as the main consumer of Russian natural gas after the Power of Siberia 2 pipeline comes online by 2030. The pipeline, which is currently under construction, will bring gas from the Yamal reserves in west Siberia—the main source of gas supply …