Canada’s government is in talks with Alberta and energy firms about scrapping a federal emissions cap on the oil and gas sector, sources told Reuters, if the industry commits to reducing its carbon footprint through other measures.
World oil supply is expected to grow more rapidly this year, with a surplus potentially expanding in 2026 as OPEC+ members increase output and production from non-OPEC countries rises, according to the International Energy Agency (IEA). This contrasts with OPEC's revised outlook.
The global market for chemical enhanced oil recovery (EOR) is set to expand significantly over the coming decade. According to Allied Market Research’s 'Global Oil Recovery Market Report,' the market, valued at $900 million in 2021, is expected to grow at an average annual rate of 4.6%, reaching $1.
India’s foreign minister says trade talks with Washington are ongoing, but New Delhi must defend its key interests as U.S. tariffs loom.
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days following the latest Ukrainian strike on a facility in Russia, the Hungarian and Slovakian governments said on Friday (22 August), in a widening of the fallout of the Ukraine war.
Oil is once again flowing to Hungary and Slovakia via the Druzhba pipeline, officials from both countries said late on Tuesday, after a Ukrainian drone strike on an oil pumping station in Russia's Tambov region halted supplies.
India slammed Donald Trump’s tariff threats over Russian oil imports, sparking rare unity between political rivals and fueling a growing trade rift with Washington.
On Monday, U.S. President Donald Trump announced plans to significantly raise tariffs on India over its continued purchase and resale of Russian oil, accusing New Delhi of profiting from the war in Ukraine.
Talks on a global treaty to reduce plastic pollution risk falling apart as countries remain divided over how to limit plastic production.
U.S. President Donald Trump said he heard that India has stopped buying oil from Russia, describing it as a “good step” — though he admitted the information is unconfirmed.
Türkiye has sent a draft proposal to Iraq aiming to renew and broaden their energy agreement to include cooperation on oil, gas, petrochemicals, and electricity, according to an Iraqi oil ministry official.
The UK, in coordination with the EU, has reduced the price cap on Russian crude oil from $60 to $47.6 per barrel to increase economic pressure on Moscow.
The White House says Russia will face tough new tariffs — and countries buying its oil will be sanctioned — if it does not agree to a ceasefire with Ukraine within 50 days.
Kazakhstan will remain part of the OPEC+ oil production deal but is opening talks to revise contracts with foreign investors at its largest oil and gas fields, Prime Minister Olzhas Bektenov said on Tuesday.
The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising refinery activity and seasonal summer demand as key drivers of short-term market pressure.
Oil prices plunged more than 12% last week, ending a three-week rally, with experts expecting them to stabilize around $60 if the fragile ceasefire between Israel and Iran holds.
Trump says China can continue buying Iranian oil after Israel-Iran ceasefire, hinting at softer sanctions enforcement.
Oil prices dropped 1% on Monday after hitting five-month highs, as markets assessed the impact of U.S. strikes on Iran and potential risks to oil transit through the Strait of Hormuz.
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
Global oil demand will continue rising until around 2030, even as China’s consumption peaks in 2027, driven by low U.S. gasoline prices and slower EV adoption, the International Energy Agency (IEA) said on Tuesday.
U.S. Defense Secretary Pete Hegseth has authorized the voluntary evacuation of military dependents from locations across the Middle East, a U.S. defense official said Wednesday.
Iraq’s oil minister has voiced concerns over two major energy deals worth $110 billion signed by the Kurdistan region, stressing that such agreements should be authorized by the federal government.
Eight OPEC+ nations submit revised plans after breaching production limits.
Shell has signed a deal with Bulgaria to explore 4,000 sq km in the Black Sea for oil and gas, as Sofia seeks to diversify energy sources. The move follows a similar agreement with OMV Petrom and NewMed Energy last month.
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