Tag Archives: Reuters International News Agency

OPEC could potentially face further loss of market share in early 2024 following the recent departure of Angola, weakening demand and rising output by non-OPEC producers, Reuters claims, based on its own calculations. Reuters reports that OPEC’s production is set to slip below 27 million barrels per day (bpd) without …

OPEC members are pushing against attempts to include language on “phasing out” fossil fuels in a UN Climate Change Conference, or COP 28, deal, highlighting the struggle over whether the summit can for the first time in 30 years address the future of oil and gas. Negotiators and observers at …

Saudi oil giant Aramco’s Chief Executive on Monday told a panel on the sidelines of the COP28 climate summit in the UAE that that all the renewable energy coming to market is still not enough to handle additional demand. Aramco CEO Amin Nasser added that more investment in the oil …

OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday. On Tuesday, sources had said a further delay to the meeting of the Organization of the Petroleum Exporting Countries and …

Oil prices struggled on Wednesday after sliding to their lowest levels in over three months in the previous session, weighed down by concerns over waning demand in the world’s top oil consumers, the United States and China. Brent crude futures advanced by 15 cents to $81.76 a barrel by 0636 …

Oil prices slipped more than 1% on Monday as investors adopted caution ahead of a U.S. Federal Reserve policy meeting and China’s manufacturing data due this week, offsetting support from tension in the Middle East. Brent crude futures dropped 1.6%, or $1.11, to $89.37 a barrel by 0350 GMT, while …

Norwegian energy firm Equinor will submit a proposal to pre-qualify for Norway’s first offshore wind auction, the company’s CEO Anders Opedal told Reuters on Friday. Equinor has formed a consortium with Germany’s RWE for Soerlige Nordsjoe II, an area in shallower waters close to the maritime border with Denmark, where …

Oil prices were up more than $3 a barrel in Asian trade on Monday as military clashes between Israel and the Palestinian Islamist group Hamas deepened political uncertainty across the Middle East and raised concerns about supplies. Brent crude rose $3.10, or 3.67%, to $87.68 a barrel by 0400 GMT, …

OPEC+ is unlikely to tweak its current oil output policy when a panel meets next Wednesday, four OPEC+ sources told Reuters, as tighter supplies and rising demand drive an oil price rally. Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known as OPEC+, …

The head of Canadian operations for oil producer Equinor said on Tuesday he is more optimistic the Norwegian company will proceed with its Bay du Nord offshore project, four months after delaying the project for up to three years due to soaring costs. “That’s our sentiment now, we really want …