France’s president encouraged G7 countries on Friday to stop using coal by 2030. Emmanuel Macron enumerated several key points to improve the fight against climate change during an address to the United Nations Climate Change Conference COP28 in Dubai. The “primary priority” for the most developed countries is to end …
Read More »Oil Drops as Uncertainty over OPEC+ Output Blurs Supply Expectations
Oil prices slipped on Monday as reports of disputes among OPEC+ members on their production quotas next year heightened supply uncertainties amid higher demand expectations during the first quarter of 2024. International benchmark crude Brent traded at $79.81 per barrel at 9.56 a.m. local time (0656 GMT), a 0.83% decrease …
Read More »Russia Set New Record for Daily Gas Deliveries to China
Russia set a new record for daily gas deliveries to China via the Power of Siberia gas pipeline, the press service of the energy corporation Gazprom said on Saturday. “On Nov. 23, the Chinese side’s application for the supply of Russian gas through the Power of Siberia gas pipeline again …
Read More »Turkey’s First Seismic-Research Vessel Operates Round the Clock for Country’s Energy Independence
Turkey’s first seismic research vessel “Barbaros Hayreddin Pasa,” which has scanned more than 50,000 square-kilometer in the last five years to search for oil and natural gas within the country’s territorial waters, is currently getting prepared for its next mission at Trabzon port where it briefly anchored for scheduled maintenance. …
Read More »Turkey Signs Deal for Natural Gas Exports to Romania
Turkey has agreed to send natural gas via pipeline to Romania starting from Oct. 1 and running until March 31, 2025, the Turkish Petroleum Pipeline Corporation (BOTAS) announced on Wednesday. The agreement between BOTAS and Romania’s OMV Petrom, one of the largest energy companies in the region, will cover the …
Read More »Oil Prices Rebound to 10-Month-High Path on Supply Fears
Oil prices rebounded on Thursday as concerns over tightening oil supply gained ground over heightened demand fears caused by a rise in US crude stockpiles. International benchmark crude Brent traded at $92.48 per barrel at 9.50 a.m. local time (0650 GMT), a 0.65% gain from the closing price of $91.88 …
Read More »Oil Down, Suppressed by Strong Dollar and China Demand Fears
Oil prices fell on Friday as the rising value of the US dollar and pessimism over China’s economic revival blunted gains from Saudi Arabia and Russia’s supply curbs. International benchmark crude Brent traded at $89.64 per barrel at 10.01 a.m. local time (0701 GMT), a 0.31% loss from the closing …
Read More »Oil is Falling as Traders Capitalize on Rising Oil Prices
Oil prices recorded a limited decline on Monday as investors profited from the highest oil prices seen since November and on expectations that Saudi Arabia and Russia’s curbs would continue through October. International benchmark Brent crude traded at $88.48 per barrel at 10.21 a.m. local time (0721 GMT), a 0.08% …
Read More »North Korea Launches 2 Long-Range Cruise Missiles as Part of ‘Tactical Nuclear Attack’ Drill
North Korea launched two long-range cruise missiles on early Saturday as part of a “tactical nuclear strike drill,” the country’s state media reported on Sunday. Latest in a string of missile tests, the launch came two days after the US and South Korea wrapped up their 11-day joint military exercise, …
Read More »Oil Prices Dip on Bleak Economic Data from China
Oil prices inched lower on Wednesday, influenced by weak economic data from China, the world’s largest oil importer. International benchmark Brent crude traded at $84.86 per barrel at 10.30 a.m. local time (0730 GMT), a 0.04% drop from the closing price of $84.89 per barrel on Tuesday. The American benchmark …
Read More »