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Breaking News:

Oil Should Stay In Triple Digits: Analyst

Investors Dump Copper As Demand Stumbles

Investors Dump Copper As Demand Stumbles

Copper prices have plummeted to…

G7 Targets Russian Gold In Latest Blow To Moscow

G7 Targets Russian Gold In Latest Blow To Moscow

The Biden administration and the…

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U.S. Rig Count Slips

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News

UK Unveils $18.4 Billion Package To Help Customers Pay Energy Bills

UK Unveils $18.4 Billion Package To Help Customers Pay Energy Bills

Jun 21, 2022 at 08:31 | City A.M

Household energy bills will spike to over £3,000 per year next January, putting more pressure on cash-squeezed Brits in the coldest month of the year. Energy…

Namibia Bets On Recent Major Oil Discoveries To Double Its Economy

Namibia Bets On Recent Major Oil Discoveries To Double Its Economy

Jun 21, 2022 at 08:11 | Tsvetana Paraskova

Following several offshore oil discoveries in recent months, Namibia hopes that the major oil finds could help it double its economy in the next two decades, the head of the…

Iraq Could Raise Oil Production Capacity To 6 Million Bpd

Iraq Could Raise Oil Production Capacity To 6 Million Bpd

Jun 21, 2022 at 06:51 | Irina Slav

Iraq could raise its oil production capacity to 6 million bpd over the next five years but no more than that because of constraints weighing on the industry’s expansion, the…

Asian Gasoline Feedstock Exports To U.S. Soar

Asian Gasoline Feedstock Exports To U.S. Soar

Jun 21, 2022 at 06:48 | Charles Kennedy

Exports of feedstocks for the production of gasoline from Asia to the United States have been on a sharp rise recently, rising to the highest in three months as U.S.…

Europe’s Refineries Increase Russian Crude Purchases

Europe’s Refineries Increase Russian Crude Purchases

Jun 20, 2022 at 16:17 | Julianne Geiger

Europe’s refineries took in an increasing amount of crude oil last week, tanker tracking data compiled by Bloomberg has shown. Europe’s refineries took in 1.84 million barrels per day of…

Netherlands To Burn More Coal To Conserve Gas

Netherlands To Burn More Coal To Conserve Gas

Jun 20, 2022 at 15:53 | Julianne Geiger

The Netherlands will ease its current restrictions on coal-fired power plants, a government source told Reuters on Monday. An official announcement is expected later today, according to Reuters. The news…

EU Signs Strategic Partnership With Oil, Gas-Rich Gulf Nations

EU Signs Strategic Partnership With Oil, Gas-Rich Gulf Nations

Jun 20, 2022 at 15:47 | Julianne Geiger

The European Union today said it would form a “strategic partnership” with the Gulf Cooperation Council and its Member States “as part of enhancing engagement in the broader region,” the…

People Rally In Belgium To Protest Soaring Cost Of Fuel, Food

People Rally In Belgium To Protest Soaring Cost Of Fuel, Food

Jun 20, 2022 at 14:15 | Tsvetana Paraskova

More than 70,000 people rallied in Belgium’s capital Brussels on Monday in a protest against the soaring cost of guel and food, while strikes at transportation services brought the…

Ukraine Hits Oil, Gas Drilling Platforms Off Crimea, Russia Says

Ukraine Hits Oil, Gas Drilling Platforms Off Crimea, Russia Says

Jun 20, 2022 at 14:10 | Charles Kennedy

Ukrainian forces attacked on Monday offshore oil and gas drilling platforms in the Black Sea, the Russia-installed head of Crimea said. Gas production is temporarily halted from the platforms, but…

EU Diplomat Slams Russia Over Ukrainian Grain Blockade

EU Diplomat Slams Russia Over Ukrainian Grain Blockade

Jun 20, 2022 at 09:47 | RFE/RL staff

The EU's top diplomat has accused Russia of committing "a real war crime" by blocking grain exports from Ukraine. "One cannot imagine that millions of tons…

UK Inflation Jumps Above 40-Year-High As Food And Energy Prices Soar

UK Inflation Jumps Above 40-Year-High As Food And Energy Prices Soar

Jun 20, 2022 at 09:41 | City A.M

The cost of living in the UK bumped above an already 40-year high last month driven higher by soaring energy and food prices. That’s according to…

Here's Why Global Oil Demand Slumped This Spring

Here's Why Global Oil Demand Slumped This Spring

Jun 20, 2022 at 09:34 | Charles Kennedy

World oil demand dropped in April to 97 percent of the 2019 level as demand in Asia weakened, according to data from the Joint Organisations Data Initiative (JODI)…

Ecuador Halts All OIl Operations Amid Escalating Protests

Ecuador Halts All OIl Operations Amid Escalating Protests

Jun 20, 2022 at 09:22 | Michael Kern

Ecuador's state-owned oil company Petroecuador declared force majeure across exploration, production, and transportation operations amid escalating protests against the government. This means that exports of oil…

Iraq Wants To Buy Exxon’s Stake In Key Oil Field

Iraq Wants To Buy Exxon’s Stake In Key Oil Field

Jun 20, 2022 at 09:16 | Irina Slav

The Iraqi government is ready to buy Exxon's stake in the West Qurna-1 oil field, the country's oil minister said this weekend, after the supermajor earlier announced plans to exit…

Yellen: Government Policies On Energy Not To Blame For Sky-High Prices

Yellen: Government Policies On Energy Not To Blame For Sky-High Prices

Jun 20, 2022 at 09:10 | Irina Slav

Moving to renewable energy is the way to reduce the energy costs of households, Treasury Secretary Janet Yellen told ABC's George Stephanopoulos this…

OPEC+ Mulls What To Do After The Oil Pact Ends

OPEC+ Mulls What To Do After The Oil Pact Ends

Jun 17, 2022 at 16:22 | Julianne Geiger

Delegates from OPEC+ are trying to decide what to do when the oil production pact ends in August, Bloomberg reported on Friday. The pact is faced with numerous uncertainties and…

Freeport LNG Extends Force Majeure Until September

Freeport LNG Extends Force Majeure Until September

Jun 17, 2022 at 13:38 | Julianne Geiger

Freeport LNG has declared a force majeure on LNG exports from its Gulf Coast location until September, Bloomberg sources said on Friday. The company had reported earlier in the week…

Italy May Declare State Of Alert If Russian Gas Cuts Persist

Italy May Declare State Of Alert If Russian Gas Cuts Persist

Jun 17, 2022 at 11:13 | Tsvetana Paraskova

Italy may declare next week a state of alert if natural gas supplies from Russia continue to be limited, government sources told Reuters on Friday. Before the Russian invasion…

Musk Slammed With $258 Billion Lawsuit Over Crypto Posts

Musk Slammed With $258 Billion Lawsuit Over Crypto Posts

Jun 17, 2022 at 10:49 | City A.M

Elon Musk, Tesla, and SpaceX were hit by a $258bn (£210.2bn) lawsuit on Thursday by a Dogecoin investor accusing them of running a “Crypto Pyramid Scheme (aka Ponzi…

Kurdistan Looks To Set Up Own Oil Firms Amid Legal Struggle With Baghdad

Kurdistan Looks To Set Up Own Oil Firms Amid Legal Struggle With Baghdad

Jun 17, 2022 at 10:37 | Tsvetana Paraskova

Amid an escalating dispute with the federal Iraqi government over the control of oil resources, the semi-autonomous region of Kurdistan is working to establish two companies that would produce and…

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