Oil supply in focus amid omicron Covid variant fears

Oil rigs work on rigs in Gaoyu Lake in Gaoyou in east China’s Jiangsu Province on Friday, September 17, 2021. Barcroft Media | Getty Images OPEC and non-OPEC oil producers, an influential group known as OPEC+, meet on Thursday to decide on the next phase of production policy. The Energy Alliance will hold a video … Read more

Oil output policy in focus as omicron rattles markets

A picture of the OPEC logo prior to an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Ramzi Boudina | Reuters A group of some of the world’s most powerful oil producers are meeting on Wednesday to discuss the potential impact of the new omicron Covid variable … Read more

IEA chief criticizes artificial tightness in energy markets

Oil pumping cranes are photographed at the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority said some countries had failed to take a beneficial stance to calm high oil and gas prices, criticizing the “artificial tightening” of energy markets. “[A] The factor that I … Read more

Carbon capture, flaring and disclosures

Oil giant ExxonMobil, once the most valuable company in the United States, is struggling for its future. Over the summer, investors forced a change in Exxon’s board of directors. Since then, the company has been accelerating plans for its green economy hub, which includes carbon capture and storage. Carbon capture is the process of capturing … Read more

Biden policies could lead to ‘disaster’

On Sunday, former energy secretary of Donald Trump attacked the Biden administration’s energy policies, linking them to inflation and claiming that restrictions on the US oil industry and rising costs at home could lead to a “disaster.” Energy prices have jumped globally in the past three months. Natural gas is up nearly 600% this year, … Read more

likely to maintain slow oil output despite high prices

Oil-pumping cranes, also known as “Emma donkeys”, work in an oil field near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. Andrei Rudakov | Bloomberg | Getty Images Oil prices are at their highest since 2014, and oil-importing countries are feeling the pain. But despite diplomatic pressure, it is unlikely that OPEC and its allies … Read more