OPEC+ to consider deeper oil output cuts ahead of Russia sanctions and proposed price cap
OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy.
OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy.
Industry heating oil inventories have recently risen, but with a 54% jump in price in the last year, any hiccup in supply could mean a headache for consumers.
The price of a barrel of West Texas Intermediate (WTI) crude oil jumped Wednesday by more than $2, to $80, even as oil stocks fell.
The use of hydrogen in the shift to a more sustainable future has become a big talking point in recent years.
Oil has provided one of the biggest lessons of 2022, Fundstrat’s Lee said.
The Interior proposal would impose strict monthly time and volume limits on gas flaring and require payment for flaring that exceeds those limits.
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OPEC and non-OPEC producers will convene in Vienna, Austria on Dec. 4 to decide on the next phase of production policy.
“We’re looking at one or two years of extreme volatility in the energy markets,” Francesco Starace told CNBC.
Energy markets are facing ‘one or two years of extreme volatility,’ Enel CEO says Read More »
Oil prices are defying expectations and are barely higher on the year, as the outlook for oil demand continues to deteriorate for now.
The Group of 7 nations are in talks to cap Russian oil at between $65 and $70 a barrel but it won’t have a great impact on Moscow’s oil revenues, analysts say.
The G-7 may cap Russia’s oil price — but it won’t dent Moscow’s war chest, analysts say Read More »
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