The looming supply cuts from Saudi Arabia and other OPEC+ producers offset concerns about weakened global economic growth that may reduce fuel demand.
The looming supply cuts from Saudi Arabia and other OPEC+ producers offset concerns about weakened global economic growth that may reduce fuel demand.
According to Carbon Tracker (a non-profit think tank), the world’s largest oil producers are spending billions on fossil fuel projects. These will be required if the world fails to meet
After four days of decline, oil rebounded on Thursday. This was aided by the hope that China’s anti-COVID measures will ease and signs that some tankers carrying Russian crude oil
On Wednesday, oil fell, with Brent crude close to its lowest level this year. This was due to concerns about recession and the easing of fears that a Western ban
Gas flow via the Yamal Europe pipeline, which normally travels west from Russia into Europe, was reversed Friday. Low supply to Poland from Germany remained largely unchanged since Monday, according
Gazprom, the Russian gas giant, announced Friday that Russia intends to increase its gas exports to China by 48 billion cubic meters (bcm), per year through a new pipeline. The
A surge in demand, fading omicron concerns, and OPEC+’s inability to increase output have all contributed to an impressive rally in oil prices.
Gazoppa, a Russian supplier of Gazprom, was unable to supply gas east of the Yamal-Europe pipeline on Tuesday for a 29th consecutive session.
Gazprom, Russia’s state-owned energy company, stated Monday that it has not booked any capacity for gas transport to Europe via the Yamal pipeline next month. This is in line with
According to data from Gascade, the Yamal-Europe pipeline which normally sends Russian gas westward into Europe flowed east from Germany towards Poland on Saturday for the 26th consecutive day.
Brent crude oil traded at $85 per barrel on Thursday, nearing two-month highs. This was buoyed in part by the expectation that a strong economic recovery would boost demand. However,