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Crude oil prices were up on Wednesday as the upcoming meeting between OPEC and its allies, known as OPEC+, give hope to investors of potential support to prices. International benchmark Brent crude was trading at $32.32 per barrel at 0620 GMT for a 1.4% increase after it closed Tuesday at …

Liquefied natural gas (LNG) demand is expected to drop in 2020 in China, Japan and South Korea, the three biggest importers of LNG in the world, Kallanish Energy reports That assessment was released on Tuesday by the Independent Commodity Intelligence Services (ICIS). It is forecasting that China 2020 LNG imports …

Chinese buyers have resumed imports of liquefied natural gas (LNG) from U.S. exporters, as Beijing started granting waivers to a 25% import tariff. Last month the Chinese government commenced a process to award tax waivers to some LNG buyers. The exemptions would last for a year and allow importers to …

Venezuelan President Nicolas Maduro said he was optimistic about the upcoming OPEC+ meeting, at which solutions could be found to stabilise the oil market. On Thursday, an OPEC+ video conference will be held on the possibility of a new cut in oil production to stabilise the market, to be followed …

Iran does not agree with holding any OPEC+ meeting in the absence of a clear proposal and expected outcome from such talks for the oil market, its oil minister said in a letter to OPEC and seen by Reuters. “The vague circumstances around which the upcoming OPEC and non-OPEC ministerial …

The U.S. cut its oil output forecast by more than one million barrels a day, days before OPEC and other producers meet to discuss a global deal to stem an unprecedented collapse in prices. Production will average 11.76 million barrels a day in 2020, down from an expected 12.99 million, …

By calling for an urgent OPEC+ meeting to discuss oil price stabilization under pressure from President Donald Trump, Saudi Arabia has admitted defeat in its price war against Russia, Mamdouh Salameh, a visiting professor of Energy Economics at ESCP Europe Business School said. In an exclusive interview with Anadolu Agency …

The meeting of ministers of OPEC and countries outside the cartel (OPEC+) is scheduled for April 9, 2020, Advisor to Azerbaijan’s Minister of Energy Zamina Aliyeva told Trend on April 7. Azerbaijan is ready to make its contribution to the process of global regulation of the oil market in order …

Saudi Arabia will host a video conference meeting on Friday for G20 energy ministers “to ensure energy market stability”, it was reported on Tuesday, citing an internal document. Oil prices have fallen sharply due to the impact of Covid-19, in addition to last month’s collapse of coordinated output cuts led …

State-owned China Three Gorges Renewables Group Co. is seeking to raise 25 billion yuan ($3.5 billion) in what could be one of the country’s biggest initial public offerings this year. The company plans to sell as many as 8.57 billion shares in Shanghai, according to a prospectus posted on the …