Powers need to study all oil options, including Iran, Venezuela -France

An oil tanker is docked while oil is pumped into it at the ships terminal of PDVSA’s Jose Antonio Anzoategui industrial complex in the state of Anzoategui April 15, 2015. REUTERS / Carlos Garcia Rawlins Register now for FREE unlimited access to Reuters.com Register US sanctions on Venezuela, Iran curbing oil output Consumer countries pressure … Read more

Macron tells Biden that UAE, Saudi can barely raise oil output

GARMISCH-PARTENKIRCHEN, Germany, June 27 (Reuters) – Two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production, French President Emmanuel Macron on Monday said he had been told by the UAE’s president. Saudi Arabia and the UAE have been perceived as the only two countries in the Organization of … Read more

Ecuador could stop pumping oil within 48 hours due to protests

Protesters march through the Santo Domingo Plaza to demand President Guillermo Lasso address price increases for fuel, food and other basics which have ignited 10 days of demonstrations across the country, in Quito, Ecuador June 22, 2022. REUTERS / Santiago Arcos Register now for FREE unlimited access to Reuters.com Register June 27 (Reuters) – Ecuador … Read more

Oil prices edge higher ahead of G7 talks on new Russian sanctions

Crude oil storage tanks are seen at the Kinder Morgan terminal in Sherwood Park, near Edmonton, Alberta, Canada November 14, 2016. REUTERS / Chris Helgren Register now for FREE unlimited access to Reuters.com Register LONDON, June 27 (Reuters) – Oil prices edged higher on Monday in a volatile session as investors waited for any moves … Read more

Stocks extend bear market bounce as inflation anxiety eases

MILAN / TOKYO, June 27 (Reuters) – World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and a rally across Asian markets after China further eased COVID-19 restrictions drove the MSCI’s benchmark … Read more

Ecuador cuts gasoline prices in latest concession to protesters

QUITO, June 26 (Reuters) – Ecuadorian President Guillermo Lasso said on Sunday he would cut prices for gasoline and diesel by 10 cents a gallon, the latest concession to try to end nearly two weeks of anti-government protests in which at least six people have died. The sometimes-violent demonstrations by largely indigenous protesters demanding lower … Read more

French energy companies call for ‘immediately’ limiting energy use

A couple of stork stands in a nest on the top of a pylon of high-tension electricity power lines in front of a smoke stack of the Electricite de France (EDF) coal-fired power plant of Cordemais in Bouee, France, February 25, 2022. REUTERS / Stephane Mahe Register now for FREE unlimited access to Reuters.com Register … Read more

Oil settles up but posts weekly decline on recession fears

Brent, US crude head for second weekly decline The Fed’s inflation fight is ‘unconditional,’ Powell says US consumer sentiment at record low, inflation outlook improves OPEC + seen sticking to plan at June 30 meeting June 24 (Reuters) – Oil prices settled up by more than $ 3 a barrel on Friday, supported by tight … Read more

Analysis: Up-ended global LNG markets deepen Australia’s power woes

Shell sends three LNG cargoes from Australia to Chile Tight Atlantic Basin supply sucks gas from Australia Gas prices expected to stay high into mid-2020s – WoodMac Government weighs options to beef up gas supply MELBOURNE, June 24 (Reuters) – Top liquefied natural gas exporter Australia is in the depths of a power crunch just … Read more

EU plans for life without Russian gas amid inflation spike

‘The notion of cheap energy is gone,’ Latvian PM says Inflation in the euro zone has shot to all-time highs Germany warns some industries may have to close this winter BRUSSELS, June 24 (Reuters) – EU leaders on Friday warned that “cheap energy is gone” and agreed to boost preparations for further cuts in Russian … Read more