Crude oil prices dropped to the lowest level since January following OPEC’s decision not to cut production any further. Moreover, stronger-than-expected US economic data fuelled speculation that the Federal Reserve would keep its policy tight to fight inflation. Hence, Brent crude decreased by $2.89, or 3.4%%, to settle at $82.68 a barrel. WTI crude fell by $3.05, or 3.8%, to end at $76.93 a barrel.
read more... 06/12/2022
LONDON, Dec 1 - OPEC+ is widely expected to stick to its latest target of reducing oil production by 2 million barrels per day (bpd) when it meets on Sunday, but some analysts believe that crude prices could fall if the group does not make further cuts.
read more... 02/12/2022
Crude oil prices diverged on Monday. Brent crude declined by 0.5% to settle at $83.19 a barrel amid fears about a new global recession and fading oil demand. In contrast, U.S. WTI crude increased by 1.3% to close at $77.24 a barrel, spurred by talk of an OPEC+ production cut that offset concerns about severe COVID-19 curbs in China.
read more... 29/11/2022
The Hywind Tampen floating offshore wind farm off the west coast of Norway, which will supply power to oil and gas fields and cut their emissions, started producing its first power on Sunday, Norwegian energy firm Equinor said on Monday.
read more... 14/11/2022
Spain's Iberdrola will invest 47 billion euros ($47 billion) in electricity networks, renewable energy production and customer businesses over the next two years, its chairman said in a strategy update on Wednesday.
read more... 10/11/2022