Opec+ controls only half of the global oil production, as demand growth has slowed “dramatically” and US output is at new highs. According to the International Energy Agency, recent production
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Venezuelan President Nicolas Maduro raised the stakes dramatically in his country’s dispute over its border with Guyana. He ordered state companies to exploit contested mineral and oil deposits, and redrawn
Oil prices are at their lowest levels in five months, as investors become increasingly skeptical that the production cuts announced last week by Opec+ will be sufficient to offset rising
OPEC+ will reduce oil production in 2024 to help improve the market.However, crude prices have fallen due to ongoing tensions within the group. Saudi Arabia has pledged to extend its
Saudi Arabia has asked other members of the OPEC+ alliance to reduce their oil production quotas to stabilize global markets, but some are refusing to comply. OPEC+’s leader, who asked
There is increasing pressure on the Scottish government to save its only oil refinery Owners of Scotland’s only remaining oil refinery Grangemouth have lost more than £1bn over the past
Chief energy adviser of the White House, Mr. Michael A. White, said that he was confident that Arab oil companies would not weaponise their energy despite growing anger in the
The oil prices fell to their lowest level since early July, forcing the Opec+ major oil producers group to reconsider extending and intensifying production cuts at their meeting in Vienna
In an effort to curb the global warming gas, methane, the EU has agreed upon new restrictions for emissions that will affect Europe’s energy industry as well as importers of
