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OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken. The producer group has been dropping hints for weeks that its plan to add almost 2mn barrels a day to oil markets next year …

Another set of tests has been performed in the upper levels of the exploration well at the Leningradskoye field of the Yamal gas production center. Earlier, the well helped discover a new deposit in the lower levels. In the course of the exploration activities, commercial gas inflow of over 1 …

Russia has no plans to rein in its production of fossil fuels in the coming decades despite the global efforts to shift towards low-carbon energy, according to its energy minister. Alexander Novak told the Guardian that Russia did “not see that we will achieve a peak in [gas] production anytime …

Norway’s Equinor aims to become a net zero emitter of greenhouse gases by 2050, including emissions from the production and final consumption of oil and gas, the energy producer’s new chief executive said as he took office on Monday. Anders Opedal, the first engineer to lead state-controlled Equinor, plans to …

Gulf OPEC producers the United Arab Emirates and Kuwait, as well as Iraq, are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, OPEC and industry sources said. Their hesitance raises the possibility of reviewing output targets when …

Trump will issue an executive order to require an economic analysis of hydraulic fracturing, or fracking, as the president seeks to use what he portrays as Biden’s mixed messages on energy to woo voters in the swing states of Pennsylvania and Ohio. The order calls for U.S. agencies to analyze …

Oil prices fell more than 3% on Monday on worries that widening coronavirus lockdowns across Europe will weaken fuel demand, and as traders braced for turbulence during the U.S. presidential election week. Brent crude futures for January dropped $1.34, or 3.5%, to $36.60 a barrel by 0410 GMT, while U.S. …

Republic of Korea’s Samsung is to participate in building gas carriers at Russia’s Zvezda shipyard in the Far East, according to the press office of the Presidential Plenipotentiary in the Far Eastern Federal District. The announcement comes after a meeting between the Co-Chairmen of the Organizing Committee of the year …

Iran exported 65.5 million tons of non-oil commodities worth $18.2 billion during the first seven months of the current Iranian calendar year (March 20-October 21), registering a 17.5-percent fall in terms of weight, compared to the figure for the previous year’s same period. According to the Head of the Islamic …

The global oil market looks set for a challenging time in the coming weeks as a combination of negative factors bears down on crude prices. Fortunately, policymakers have tools at their disposal to mitigate the impact and ensure prices do not drop again like they did at the height of …