The looming supply cuts from Saudi Arabia and other OPEC+ producers offset concerns about weakened global economic growth that may reduce fuel demand.
Big Oil Bets Billions on Global Climate Catastrophe
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 from 2022 lows
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
Oil falls close to 2022 lows on economic worries
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 flows via the Yamal-Europe pipeline, travel west from Russia to Europe, remained reversed on Friday
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: Russia will boost China’s gas exports by 25% while Yamal-Europe pipeline continued at a slow pace
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
Traders bet that oil hits $100 is a question of when – not if
A surge in demand, fading omicron concerns, and OPEC+’s inability to increase output have all contributed to an impressive rally in oil prices.
As tight supplies bite, oil hit seven-year highs
Gazoppa, a Russian supplier of Gazprom, was unable to supply gas east of the Yamal-Europe pipeline on Tuesday for a 29th consecutive session.
Russia’s Gazprom does not plan to export Europe gas via the Yamal pipeline in February.
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
Yamal gas pipeline continues to flow eastwards, from Germany to Poland
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.
On stronger demand prospects, oil prices hover around $85/bbl
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,