Tag Archives: oil pric

China’s economic recovery is sputtering, prompting renewed concerns about crude oil and other commodities demand that could result in slower-than-expected global oil demand growth this year and weigh on oil prices. After the reopening from the Covid-related restrictions, China is expected to account for more than half of the world’s …

ExxonMobil and Chevron could gain access to Algeria’s vast natural gas resources as the U.S. supermajors are in advanced talks for exploration and production deals in the North African country, The Wall Street Journal reported on Friday, quoting sources with knowledge of the talks and Algerian Energy Minister Mohamed Arkab. …

Governments worldwide are encouraging private companies to move away from fossil fuels and invest heavily in green energy and related technologies. In doing so, they are also trying to expand the consumer market, pushing the public to accept a movement away from fossil fuels, such as the natural gas used …

South Korea has announced a $5.32 billion financial support package aimed at helping the country’s battery makers invest in infrastructure in North America over the next five years. The initiative is intended to help South Korean firms capitalize on the United States’ Inflation Reduction Act, which requires automakers to source …

India is looking to boost its renewable energy capacity by 250 gigawatts (GW) over the next five years as part of a plan to have 500 GW of installed clean energy capacity by 2030. The Indian government will invite bids for installation of 50 GW of renewable capacity each financial …

Astana is upbeat about boosting oil exports, despite caveats over how the war in Ukraine may impact markets and questions about its recently launched shipments to Europe. Kazakhstan plans to increase oil supplies via its main export pipeline to Russia by over a third by the end of next year, …

China produced a record amount of coal last year although output ended the year with a decline amid the latest surge in covid infections. Total output for the year reached 4.496 billion tons, which was a 9-percent increase on 2021, according to official statistics data reported by Reuters. Chinese government …

Despite the fact that U.S. crude oil production has recently hit the highest level since the pandemic low of below 10 million barrels per day (bpd) in May 2022, the growth rate has markedly slowed this year as the shale patch struggles, labor shortages, supply chain delays, and the high …

Last month, France’s president Emmanuel Macron accused the United States of a “double standard” because of the difference between the price at which liquefied natural gas produced in the U.S. sells in Europe and the price at which natural gas sells within the U.S. “The North American economy is making …

The biggest energy shock since the 1970s is expected to keep oil and other energy prices elevated for years as the Russian invasion of Ukraine is changing energy trade flows and consumption and production, the World Bank said in its latest Commodity Markets Outlook report on Tuesday. Prices of food …