Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ will likely consider?raising their oil output by 137,000 barrels a day for April. Three sources familiar with OPEC+'s thinking stated that the group is preparing for the peak summer demand as well as a price increase due to tensions between the U.S. After a three-month pause, the OPEC leader Saudi Arabia, and other OPEC+ countries such as Russia, Iran and Kazakhstan, are facing Western sanctions, while Kazakhstan is recovering from a series oil production setbacks.
Sources say that OPEC+ will consider an increase in oil production of 137,000 bpd for April.
OPEC+ is likely to consider raising its oil production by 137,000 barrels a day in April, according to three sources familiar with OPEC+'s thinking. The group is preparing for the peak summer demand, and tensions between the U.S. The resumption 'would allow OPEC leaders Saudi Arabia and other members, like the UAE, 'to regain market shares at a period when OPEC+ countries, such?as Russia…
In January, US LNG imports accounted for almost half of Spain’s gas supply.
Data released on Tuesday showed that liquefied natural gases from the United States accounted for 44.4% of Spain's total imports of gas in January. This is a significant increase from last year. As Europe tries to reduce its energy imports from Russia following the invasion of Ukraine, the U.S. is now the dominant LNG supplier. Tariffs and the President Donald Trump's move to take over Greenland have raised concern among some officials regarding the?growing dependence on U.S.
OPEC+ agrees that oil production will remain unchanged despite Iran tensions
OPEC+ decided to keep its oil production unchanged for March during a meeting on Sunday, the producer group reportedly said. This was despite crude prices hitting six-month highs due to fears that the U.S. might launch a military attack on OPEC's member Iran. Brent crude oil closed at $70 a barge on Friday, near the $71.89 high it reached on Thursday. The eight OPEC+ member countries met as prices rose to a six-month peak.
Sources say that OPEC+ will not increase oil production in March due to the price spike.
Three OPEC+ delegates said that OPEC+ will likely?keep its planned pause for oil production increases in?March?" when it meets on Sunday. This is even though crude prices have reached six-month highs due to fears the U.S. might launch a strike against OPEC member Iran. The eight OPEC+ member countries met as Brent crude prices closed at $70 a bar on Friday. This was close to the?six-month peak of $71.89 on Thursday.
Sources say that OPEC+ will pause oil production in March due to the price increase.
Five delegates said that OPEC+ will likely pause its oil production increases in March when it meets on Sunday. This is despite crude prices rising above $70 a barrel on fears the U.S. might launch a strike against OPEC member Iran. Brent crude is at its highest level since August. The eight OPEC+ member countries, who pump half of the world's oil supply, met as Brent crude prices rose to $72 a barrel.
Sources say that OPEC+ is likely to continue its oil production pause in March, despite the rising prices.
Three OPEC+ delegates said that OPEC+ was expected to maintain its pause in oil production?increases during a Sunday meeting. Prices are rising because of a 'drop in Kazakhstan oil production. Eight members of OPEC+ met to discuss the price of oil. Prices have risen by 8% this month, and now exceed $66 a barrel. This is despite fears that a glut of oil would drive prices down. Saudi Arabia, Russia, Kuwait, Iraq, Algeria, and Oman are all due to meet in February.
OPEC Oil Output Falls in December After Low Supply From Iran, Venezuela
OPEC's oil output fell in December due to lower supply from Iran and Venezuela, which offset an OPEC+ agreement to raise production for the month, a Reuters survey found on Friday.The Organization of the Petroleum Exporting Countries pumped 28.40 million barrels per day last month, down 100,000 bpd from November's revised total, the survey showed, with Iran posting the largest decline.OPEC+…
Sources say that OPEC+ will maintain oil production despite tensions among its members
OPEC+ agreed to?maintain a?steady?oil output during its Sunday meeting, according to an OPEC+ delegates and a source who was familiar with the talks. This is despite the political tensions that exist between Saudi Arabia and UAE and the capture by the U.S. of Venezuela's president. The eight members of OPEC+ who pump about half a world's oil will meet on Sunday after oil prices dropped more than 18% between 2025 and 2020, their steepest annual drop since 2010.
Sources say that OPEC+ will maintain oil production despite tensions among its members
OPEC+ delegates reportedly said that despite the political tensions between Saudi Arabia and the UAE?and U.S. capture the president of smaller producer 'Venezuela,' OPEC+ is likely to maintain steady oil production at its Sunday meeting. The OPEC+ meeting on Sunday, which includes eight members who pump about half of the world's crude oil, was called after oil prices dropped more than 18% between 2025 and 2020…
Snam Receives EU Backing for Hydrogen Pipeline, CO2 Storage
The European Commission on Monday included in its new priority list for cross-border energy projects two initiatives backed by Italian gas grid operator Snam, making them eligible for EU funding.The commission had already added the projects to a priority list in 2023, but their presence in this year's update makes it likely that they will be included in Snam's updated industrial plan, due to be presented early next year.Snam's projects, part of an EU list of 235, are a hydrogen pi
Gas prices to drop next week due to warmer weather
The wholesale gas prices in the Netherlands and Britain fell on Wednesday morning, as forecasts of warmer weather next week reduced demand. LSEG data revealed that the benchmark Dutch front-month contract for the TTF hub had fallen 0.29 euros to 31.12 Euros per Megawatt Hour (MWh), or $10.55 /mmBtu by 0942 GMT. The Dutch day-ahead rate was down by 0.85 euros at 81.95 euro/MWh. The British day-ahead contracts was down 0.65 pennies at 82.50 pence/therm.
EUROPE GAS-European gas prices stable near key technical support
Dutch and British gas contract prices were mostly firmer Tuesday. This was despite the fact that there are mild weather forecasts, and a steady supply of LNG and gas via pipeline. LSEG data shows that the benchmark Dutch front-month contract was up 0.29 euro at 31.55 Euro per megawatt hour at TTF hub, or $10.74/mmBtu by 0940 GMT. The price briefly fell to 31.14 euro/MWh, the lowest since October 3. The Dutch day-ahead contracts was up by 0.40 euro at 31.35 Euro/MWh.
Algeria signs oil and gas deal worth $5.4 billion with Saudi firm Midad Energy
Sonatrach, the state-owned energy firm of Algeria, announced on Monday that it had signed a $5.4 billion contract with Midad Energy from Saudi Arabia for exploration and development of oil and gas in Algeria's Illizi Basin. The contract for production sharing is 30 years long with the option of an extra 10 years. It also includes a 7-year exploration phase. Midad Energy North Africa is fully funding the investment, which includes $288 million for exploration.
Algeria signs oil and gas deal worth $5.4 billion with Saudi firm Midad Energy
Sonatrach, the state-owned energy firm of Algeria, announced on Monday that it had signed a $5.4 billion contract with Midad Energy from Saudi Arabia for oil and natural gas exploration and production in Algeria's Illizi Basin. The contract for production sharing is 30 years long with the option of an extra 10 years. It also includes a 7-year exploration phase. Midad Energy North Africa is fully funding the investment, which includes $288 million for exploration.
Algeria aims to reduce budget deficit by 35% in 2026, despite spending record
Algeria's budget bill shows that it plans to reduce the deficit to $40 billion or 12.4% GDP by 2026. This is despite adopting a record spending plan to support economic growth and boost household incomes. The 2026 budget package is expected to be approved by the parliament and seen and will project total expenditures exceeding $135 billion. This is up from $128 in 2025 and $112 in 2024.
The price of gas in Europe is rising amid a strong supply
The Dutch and British gas price continued to rise Tuesday morning in response to the strikes on Ukrainian gas pipelines, but gains were limited due to a healthy supply. LSEG data shows that the benchmark Dutch front-month contract was up 0.12 Euros at 33.29 Euros per megawatt hour at TTF hub, or $11.37/mmBtu by 0959 GMT. The Dutch November contract increased by 0.14 Euros to 33.47 euros/MWh. The British day-ahead contracts rose 0.85 pence, to 85.85 cents per therm.
Algeria to invest $60 billion in energy over 5 years, says Energy Minister
Algeria will invest 60 billion dollars in energy projects from 2025 to 2029, as part of an ambitious strategy to promote oil, gas and hydrogen development, said Energy and Mines minister Mohamed Arkab on Monday. Arkab, speaking at an energy conference in Algiers said that 80% of investment would be directed towards upstream exploration and production. The remaining funds would support refinery and petrochemical project.
Edison to Replace Pipeline Gas with Flexible LNG supply
Italian gas and electric utility Edison plans to replace some gas volumes from pipeline contracts with liquefied natural gas to gain more flexibility in managing demand, its CEO said on Wednesday.The company earlier announced a 15-year agreement with Shell to purchase around 0.7 million tonnes a year of U.S. LNG starting in 2028.European companies are stepping up LNG purchases to gain flexibility, so they can resell cargoes to other markets when demand is low.
OPEC's oil production rose in July, led by the UAE and Saudi Arabia, according to a survey
A survey on Friday found that OPEC oil production increased in July following an OPEC+ deal to increase production. However, the rise was limited due to Iraq's additional cuts and drone attacks on Kurdish fields. According to the survey, the Organization of the Petroleum Exporting Countries (OPEC) pumped 27,38 million barrels of oil per day in June, an increase of 270,000 bpd over the revised total for the month.