Tag Archives: Bloomberg News Agency

OPEC+’s surprise oil-production cut sent shock waves through financial markets and pushed crude prices up by the most in a year. Now that the dust has started to settle, one question looms large: Will that price rally stick, or fade away? Banks from Goldman Sachs Group Inc. to RBC Capital …

Russia’s Energy Ministry said the nation reduced its oil output by about 700,000 barrels a day last month, according to a person familiar with the figures. Yet that figure is inconsistent with data on the nation’s March seaborne exports and supplies to domestic refineries — adding to the uncertainty over …

European natural gas prices declined for a third session amid lackluster demand, even as uncertainty remains about the full restart of LNG terminals in France. Dutch front-month futures fell 0.9% to €44.17 a megawatt-hour after slumping 13% during the previous two sessions. The UK equivalent also edged lower. European gas …

Europe has a new benchmark for liquefied natural gas which regulators hope will disentangle the market from the kind of price surges witnessed last year. The European Union Agency for the Cooperation of Energy Regulators launched the new price gauge on Friday, indicating that LNG was trading at a discount …

The UK selected projects from developers including BP Plc and Equinor ASA to enter into negotiations for the country’s first large-scale efforts to capture and store carbon emissions. In total, eight projects are set to receive government support to trap carbon from industrial clusters in the north of England. The …

The OPEC+ coalition is showing no signs of adjusting oil production next week, staying the course amid turbulence in financial markets. Group leader Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023 as it navigates a fragile recovery in global oil …

The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions. The bloc’s energy ministers on Tuesday endorsed a proposal that would allow member governments to temporarily prevent Russian exporters from booking the …

European natural gas prices rose after a second straight weekly decline, as another spell of colder weather passes through the region. Temperatures across the continent are forecast to drop again this week. Together with some project maintenance in Norway in the coming days, there could be an upside for near-term …

Germany has avoided a gas shortage this winter but “things could be different” next year and there’s no time for complacency, a top energy regulator said. “We can’t rule out a gas shortage situation for next winter,” Klaus Mueller, president of the federal network agency BNetzA, told the Rheinische Post. …

Goldman Sachs Group Inc., one of the most bullish banks on its outlook for oil, has nudged its forecasts down as worries over the banking sector and the potential for recession outweigh a surge in demand from China. The bank’s analysts now see Brent reaching $94 a barrel for the …