Commentary: What’s Really Behind OPEC’s Sudden Oil Cut?
Federal policies that have hampered the U.S. oil and gas industry have also put OPEC+ in the driver’s seat with the ability to control and drive oil prices — at exactly the wrong time.
Energy Transition in Motion (Week of April 14, 2023): Advancing Projects, Investment
Here’s a look at some of this week’s renewable energy news, including a U.S. outlook showing a shift from fossil fuels as renewable electricity capacity grows between 380% and 600% in through 2050.
Oil Gains After IEA Sees Demand Rising to Record High
The IEA said world oil demand is set to grow by 2 MMbbl/d in 2023 to a record 101.9 MMbbl/d, driven in most part by stronger Chinese consumption after the lifting of COVID restrictions.
Will There Be a Run in Crude Prices Later This Year?
Crude and fuel prices have the potential for another late 2023-2024 run in prices, as production and refining capacity lag.
Analysts: Global Wind Capacity Approaches 1 TW as Offshore Grows
Offshore wind development has taken off as the world turns to renewable energy to help reduce global emissions.
China's Sinopec to Take Stake in Qatar's North Field East
The deal marks first shareholding for an Asian customer.
US Reduces Flaring and Flaring Intensity, The World Bank Says
The U.S. continued to make steady progress to reduce its gas flaring in 2022 and achieved a 9% reduction compared to 2021, The World Bank announced in a recent report on flaring.
Deepwater Roundup: Australasia
Here is a roundup of some of the major deepwater projects across the globe. The second in a four-part series, Hart Energy details projects scheduled to come online in Australasia from 2025 through 2030.
Saudi Maintains Crude Supply to Asian Refiners Despite OPEC+ Cuts
State oil giant Saudi Aramco will supply full crude contract volumes to several North Asian buyers despite its pledge to cut output by 500,000 bbl/d.
Sources: Japan's Three Megabanks Face Votes on Climate Change
The coordinated effort marks a step up from the past three years, when climate groups targeted one megabank each year, now calling simultaneously for action by the Japanese banks, seen as lagging their global peers in efforts to slash carbon emissions.