Tag Archives: Reuters International News Agency

Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer. Brent crude futures fell $1.09, or 1.9%, to $55.01 a barrel by 1021 GMT, after a 2 …

Incoming U.S. president Joe Biden will announce America’s return to the international Paris Agreement to fight climate change on Wednesday, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming. The announcements will also include a sweeping order to review all of …

Saudi Arabia, the world’s biggest oil exporter, beat Russia to keep its ranking as China’s top crude supplier in 2020, government data showed on Wednesday. China’s oil demand remained strong last year even as the COVID-19 pandemic hammered appetite for fuel elsewhere. The world’s top oil importer, brought in a …

Global emissions of the potent greenhouse gas methane from oil and gas production dropped 10% in 2020 mainly because of lower output as opposed to concerted climate action, a report by the International Energy Agency (IEA) found. Methane has more than 80 times the warming potential of carbon dioxide in …

Oil prices fell more than 2% on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and U.S. plans for a large stimulus package. Brent was down $1.33, or 2.3%, at $55.17 by …

China’s electricity system was already becoming stretched – even before unusually cold weather descended on most of the country in December and January. In common with other fast-developing economies in Asia, China’s reliability problem stems more from rapid growth in electricity consumption than abnormal weather, with generation struggling to keep …

The U.S. Energy Information Administration on Tuesday cut its 2021 world oil demand growth forecast by 220,000 barrels per day from its previous estimate. In its monthly forecast, U.S. Energy Information Administration says 2022 world oil demand to hit 101.08 million bpd, up 3.31 million bpd from 2021.

A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for U.S. shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer. U.S. crude oil production has fallen 2 …

Oil prices held near 11-month highs on Friday and were on track for a strong weekly gain as Saudi Arabia’s pledge to cut output continued to buoy market sentiment. Brent crude climbed 13 cents, or 0.2%, to $54.51 a barrel. It touched $54.90 on Thursday, the highest since February, Reuters …

Oil prices hit their highest level in nearly a year on Friday, gaining 8% on the week, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets. Brent crude settled at $55.99 a barrel, climbing $1.61, or 3%, on the day and 8.1% on the …