Oil & Gas

The US may begin refilling its emergency oil reserve when crude prices dip below $80 a barrel, according to people familiar with the matter. Biden administration officials are weighing the timing of such a move, with an eye toward protecting US oil-production growth and preventing crude prices from plummeting, said the people, who asked not
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Mounting fears of recessions in major economies as well as China’s inability to throw off its virus shackles have oil analysts slashing their price forecasts for the rest of this year. Morgan Stanley and UBS Group AG cut their near-term outlooks for crude by as much as $15 a barrel amid the deteriorating backdrop, and
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Add the rapid drop in the value of the yuan to the litany of challenges facing global commodities prices. China, the biggest importer of many raw materials, has already seen demand slacken as virus curbs, a property crisis and power outages over the summer hammered economic activity. And while higher energy costs due to the
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European Commission President Ursula von der Leyen says the region is facing an extraordinary situation. Thierry Monasse | Getty Images News | Getty Images European Union energy ministers on Friday gathered in Brussels for emergency talks on how to protect households and businesses from runaway gas and electricity prices ahead of winter. European Commission President
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Abu Dhabi headquartered international energy company Mubadala Petroleum has unveiled a new brand name – Mubadala Energy. The new brand reflects a fresh strategic direction which will see Mubadala Energy build on its contribution to the energy transition by expanding its gas-weighted portfolio in areas such as LNG while exploring new energy sectors including blue
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In the U.S., the so-called driving season was uncharacteristically tepid, with gasoline demand significantly below last year, energy and environmental geo-analytics company Kayrros stated in a recent report sent to Rigzone. However, while the summer demand bump was modest, so too was the late-August decline, the company highlighted in the report, adding that demand eased
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Energy rationing in Europe this winter is starting to look all but inevitable. German officials on Saturday insisted that security of supply was guaranteed, at least for now, after Russia’s Gazprom PJSC made a last-minute decision not to turn the crucial Nord Stream pipeline back on after maintenance. Storage is filling up and new sources of gas
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