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Chinese mills are churning out steel, aluminum and even refined copper at near-record levels and sending the surplus abroad, a trend steel industry analysts say could pressure industrial metal prices in the United States. After a year of lagging domestic demand, China’s exports of construction and manufacturing metals have surged, …

With six little words, Elon Musk has relegated the oil industry to a historical footnote. This, despite the oil industry underpinning the workings of the entire world. “Compared to solar, oil is small-time,” Musk posted on X, delivering a withering verdict on the fossil fuel era. No charts, no caveats. …

On May 27, the European Union formally approved its 150 billion-euro ($170 billion) scheme to boost defense spending in the bloc. The so-called SAFE (Security Action For Europe) regulation was first proposed in March by the European Commission in response to calls from member states for financial and political support …

Saudi Aramco, the world’s biggest oil firm, is expected to price later on Tuesday a three-part bond in U.S. dollars as a campaign to raise funds, IFR news service reports. The bond sale is set to be benchmark-sized, which typically means the issue would be of at least $500 million. …

Italy’s industry needs an urgent plan from the government to help reduce the high energy costs, which are higher than in other European countries, the president of the Italian business lobby, Confindustria, said on Tuesday. “Our companies continue to incur energy costs that are more than 35% higher than the …

OPEC’s second-largest oil producer, Iraq, aims to accelerate solar power development with at least 1,000 small-sized projects over the next three years, a senior government official has said. “Solar energy will be an essential part of the national energy mix by 2030,” Mazhar Mohammed Salih, advisor to the Iraqi Prime …

The OPEC+ group must consider rising oil demand when it makes decisions about production levels, the energy minister of one of OPEC’s top producers, the United Arab Emirates (UAE), said on Tuesday. The OPEC+ alliance is doing its best to balance the oil market, UAE’s Energy Minister Suhail Mohamed Al …

Iraq has filed a lawsuit against the United States over oil contracts between American companies and the Kurdistan Regional Government (KRG) in northern Iraq, escalating a constitutional dispute that has long threatened to destabilize the country’s energy sector, Reuters reported. According to Iraqi media, the lawsuit was filed on Monday …

Europe’s benchmark natural gas prices rose early on Monday following an unplanned cut to capacity of the giant Troll gas field in Norway, the single largest supplier of gas to Europe. Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, jumped by 2.2% at trade open in Amsterdam …

Saudi Arabia and Kuwait have announced a new oil discovery in the so-called Partitioned Zone (PZ) between the two OPEC heavyweights which share equally output from the area. Saudi Arabia and Kuwait announced on Monday that Wafra Joint Operations had made a new oil discovery in the North Wafra Wara-Burgan …