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...On Wednesday, it reimposed sanctions on Venezuela, another member of the Opec cartel....
...To replace that gas, the bloc has vastly increased its imports of LNG from countries including the US, Norway and Qatar....
...Oil prices dropped following Angola’s decision to quit the Organisation of Petroleum Exporting Countries. Brent crude, the international oil benchmark, fell 1.9 per cent to $78.17 a barrel....
...Angola has said it is leaving the Organisation of Petroleum Exporting Countries in a blow to the oil cartel chaired by Saudi Arabia.The decision comes after the producer group lowered Angola’s oil output...
...The IEA report played down longer term supply concerns, saying that while the 22 countries in the wider Opec+ group had been cutting production, removing close to 2mn b/d from the market since the end of...
...Two decades ago the US produced about 7mn barrels a day of petroleum and consumed 21mn....
...Curbing exports from Tehran will be difficult: the country is exporting more oil than at any time in six years, our energy editor Malcolm Moore reports....
...Earlier this month, the country joined the Opec+ group — which comprises the Organisation of the Petroleum Exporting Countries plus its allies — although Lula has insisted its status will remain that of...
...Oil prices have blown through analysts’ median forecast of $83 a barrel for this quarter, according to Bloomberg data, as global petroleum demand grows when the Saudi Arabia-led Opec+ alliance is constraining...
...Since ordering the full-scale invasion of Ukraine in February 2022, Putin has limited his travels to countries of the former Soviet Union, as well as China and Iran....
...Six of these will produce more than 700,000 boe/d each — more than some Opec member countries....
...If Maduro needs evidence of the dire consequences of invading a neighbour, he need look no further than Russia, a fellow member of OPEC+....
...Malaysia recently obtained a ruling at the World Trade Organization on those rules, which criticised some of the EU’s approach....
...These are small numbers by Opec standards, but Exxon’s production was a significant proportion of Equatorial Guinea’s total output of 52,000 b/d....
...A future of warmer and wetter winters means heightened risks not only for farmers but for the country’s food security....
...The main player when it comes to supply is a little cartel affectionately known as Opec. Katie, what is Opec?...
...Governments can’t even agree on what institution in which to have talks (the World Trade Organization’s too sclerotic, the OECD’s a rich-country club, the UN is, well, the UN)....
...“While production is up, it has nothing to do with anything that the Biden administration has pursued,” Mike Sommers, chief executive of the American Petroleum Institute, told the Financial Times....
...“We have been treated like people from an alien country,” said Manjeet Singh Ghumana, national president of the Bharatiya Khet Mazdoor Union, one of the farmers’ groups leading the protests....
...Putin enjoys warm relations with both the oil-exporting Gulf states, which have remained neutral over Ukraine since the full invasion of February last year....
...Last year, the IEA predicted demand for oil and gas would peak before the end of the decade, a forecast that has been disputed by the Opec+ producers group and by many oil majors, who do not expect demand...
...and Occidental Petroleum all represented by their chief executives....
...Opec+ is likely to do next....
...A second price cap on refined petroleum products was imposed earlier this year....
...But while billions of dollars and decades of work have gone into developing higher-yielding, more climate-resilient varieties of wheat and corn in the exporting countries of Europe and North America, the...
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