oil and gas

How Europe plans to cut gas usage

From cutting down on shower time, driving slower and fining shopkeepers for not closing their doors, Europeans are embarking on a target of reducing energy usage in time for winter, and some citizens have taken to social media to share their experiences. For example, German Christopher Hipp offered tips on Twitter on how to defrost …

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G-7 tries to recruit countries

Two months after they agreed to explore price limits on Russian oil sales, G-7 countries are still trying to recruit more countries to join their efforts before they enter more detailed discussions about the policy’s specifics, according to US and European officials. “The coalition has to be broader, and this is the diplomatic phase [negotiators] …

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Russia warns against capping oil and gas prices

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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Water is a critical part of the energy mix

This image, from August 2022, shows a stretch of the Rhine in Germany, which plays a key role in the transportation of goods such as coal. Christoph Reichwein | Picture Alliance | Getty Images The link between energy production and water is of crucial importance and we need to value the latter resource far more …

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EU plans to cap Russian gas price as Putin issues warning | European Union News

‘We must cut Russia’s revenues which Putin uses to finance this atrocious war in Ukraine,’ European Commission President Ursula von der Leyen told reporters on Wednesday. The European Union has proposed a price cap on Russian gas just as Russia’s President Vladimir Putin warned that such a move would cause Moscow to cut off all …

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OPEC+ decision is a ‘political snub’ and ‘symbolic’, say analysts

OPEC+’s decision to implement a small production output cut is more of a political statement and symbolic message sent by the alliance, analysts said. On Monday, the group announced a small oil production cut of 100,000 barrels per day to bolster prices. Just last month, OPEC+ decided to raise oil output by the same target …

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Oil prices jump as OPEC+ agrees to small output cut | OPEC News

OPEC+ leaders Saudi Arabia and Russia said demand for oil has been cooling for several months. Oil prices rose about 3 percent on Monday, as OPEC+ members agreed to a small production cut of 100,000 barrels per day to bolster prices. Brent crude futures for November delivery settled $2.72 higher at $95.74 a barrel, a …

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Gasoline prices are expected to continue to fall after Labor Day and some states could see below $3

A bus driver fills up at a gas station in Brooklyn on August 11, 2022 in New York City. Spencer Platt | Getty Images Labor Day marks the end of the summer driving season. While gas prices are elevated, the US avoided the stretch of super high prices that some had feared. Gasoline prices are …

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OPEC+ surprises energy markets with a small production cut

The OPEC logo on a sign at the group’s headquarters in Vienna, Austria. Bloomberg | Bloomberg | Getty Images A group of some of the world’s most powerful oil producers on Monday agreed on a small output cut from next month, surprising energy markets at a time of considerable turmoil. OPEC and non-OPEC partners, an …

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Euro hits new 20-year low after Russia halts gas supplies | Oil and Gas News

The euro slides to $0.9876 after Russia scraps a Saturday deadline for flows from the Nord Stream pipeline to resume. The euro has sunk below $0.99 – a new 20-year low – after Russia’s halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The …

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