Tag Archives: Oil Price

The return of Libya’s oil production to full capacity raised the total OPEC output by 466,000 barrels per day (bpd) in October from September, the cartel’s monthly report showed on Tuesday, less than two months ahead of a planned reversal of part of the cuts. Total crude oil production in …

Weak demand in China will lead to lower supply from the world’s top crude exporter, Saudi Arabia, to the world’s largest crude importer in December, trading sources told Reuters on Monday. The drop in Saudi supply would come despite the fact that the Kingdom has reduced its official selling prices …

India’s fuel exports to Europe have soared this year to make India the biggest exporter of refined oil products to the EU as Indian refiners are capitalizing on a loophole in the EU sanctions against Russia, Finland-based Centre for Research on Energy and Clean Air (CREA) said in its monthly …

Over a quarter of U.S. oil production capacity in the Gulf of Mexico remained offline after hurricane Rafael weakened to a tropical storm that the U.S. National Hurricane Center expects to move on south and southwest this week. As of Sunday, over 480,000 bpd in oil production capacity and 310 …

Indonesia and China have signed strategic cooperation agreements in critical minerals in total bilateral deals worth $10 billion encompassing green technology, food security, and mineral resources. The agreements were signed this weekend at the Indonesia-China Business Forum in Beijing, which was the first overseas visit of newly inaugurated Indonesian President …

Russia may be considering the creation of a massive state oil company by combining current state assets Rosneft and Gazprom Neft, and private Lukoil, the Wall Street Journal reported, citing unnamed sources. According to the report, the mechanism discussed is for Rosneft to absorb the two smaller companies, which would …

Beleaguered North African oil producer Libya is set to announce within months its first oil and gas exploration bid round since the civil war began in 2011, Libyan Oil Minister Khalifa Abdul Sadiq told Bloomberg in an interview. OPEC member Libya plans to offer blocks both onshore and offshore in …

Europe’s solar installation levels are exceeding expectations, with the amount installed in October 2023 already matching the total installed in all of last year. Rystad Energy modeling forecasts new solar capacity additions will grow 30% this year versus 2022, surpassing 58 gigawatts direct current (GWDC) of new panels by the …

China, the largest producer of solar technology and the largest user of that technology, will continue to dominate the industry over the next three years. This is according to a new report from Wood Mackenzie that forecasts that as much as 80% of the global production capacity in polysilicon, solar …

One of Europe’s biggest economies and car markets, Italy, has renewed its push to seek a revision of the European Union’s plans to ban the sales of new combustion-engine cars from 2035, a draft document seen by Bloomberg showed on Thursday. Italy and the Czech Republic have teamed up to …