The oil market flashed its biggest bearish signal in months on Tuesday, indicating oversupply could be on the horizon through the first quarter of 2022. SourceContinue Reading
Stern warnings from U.S. and European officials suggest the window is closing on nuclear talks with Iran, with frustration boiling over after two weeks of negotiations marred by allegations of Iranian backsliding. SourceContinue Reading
President Joe Biden’s energy chief extended an olive branch to the oil industry Tuesday, telling executives a crude export ban is not under consideration, while assuring them that the administration was “not a bogeyman.” SourceContinue Reading
Shell New Energies US, a subsidiary of Royal Dutch Shell, has signed an agreement to buy 100% of Savion LLC, a large utility-scale solar and energy storage developer in the United States, from Macquarie’s Green Investment Group. With this acquisition, Shell expects to significantly expand its global solar portfolio. SourceContinue Reading
The European Union is planning a hard deadline to end long-term contracts to import natural gas as part of its green shift, a setback for top supplier Russia. SourceContinue Reading
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. SourceContinue Reading
German Chancellor Olaf Scholz, under pressure from the U.S. to halt the Nord Stream 2 pipeline project over Russian aggression toward Ukraine, may quietly delegate the task to the country’s bureaucracy. SourceContinue Reading
OPEC increased its forecast for global oil demand in the first quarter substantially, as some of this year’s recovery is delayed by Omicron but the overall risk from the new virus strain remains limited. SourceContinue Reading
Mexico could slash Pemex’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines. SourceContinue Reading
Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. SourceContinue Reading
