Europe and Asia boost renewable energy in response to the US-Iran War
The U.S. and Israel war against Iran has lasted six months. Governments in Europe and Asia are now scrambling to build out renewables to?cut dependency on fossil fuel imports. This will provide a new impetus for the global energy transformation. The effective closure of the Strait of Hormuz, which has slowed down a fifth of world oil and LNG shipments…
Energy Minister: Norway will drill in Arctic regardless EU's position
Norway will develop its oil and natural gas resources in Barents Sea despite the European Union’s support for a moratorium of Arctic hydrocarbon supplies. Energy Minister Terje Aasland said Norway no longer views itself as Europe’s “green?battery”. Norway is now Europe's biggest natural gas supplier, and supplies around 30% of the demand for gas in both Europe and Britain.
Bousso [edit test 2]
Donald Trump has increased the pressure on India to reduce its Russian oil purchases. It could cost Moscow vital revenues, but will mainly push more Russian crude oil onto an ever-growing shadow market. The U.S. President said that Indian Prime Minister Narendra modi had pledged on Wednesday to stop purchasing oil from Russia. India has not yet confirmed this agreement.
IEA chief: global energy security is at risk if Strait of Hormuz doesn't open within weeks
Fatih Birol, Executive Director of the International Energy Agency, said that if the U.S., and 'Iran, don't increase oil flow through the Strait of Hormuz, the world should be concerned about its energy security. Since the?conflict started on February 28, when U.S. and Israeli attacks on Iran began, the Strait of Hormuz has been largely blocked. Birol stated that despite sharp increases in energy prices…
The IEA warns that EU's methane laws could restrict the bloc's oil supplies options
The International Energy Agency warned that the EU's rules on methane could restrict the oil supply available to the bloc. Member states are preparing to discuss the calls of Germany and other countries to delay these measures. The EU has passed legislation to reduce emissions of methane, a powerful greenhouse gas. In January 2027, imports of oil…
The head of the IEA urges EU to reconsider its opposition to new Arctic oil exploration
The head of International Energy Agency, urging the EU to reconsider its opposition to oil and gas exploration in the Arctic as Europe strives to secure future energy supplies. The European Union currently supports an 'ban on new drilling in the Arctic for environmental reasons, but may revise its policy to address concerns over energy security. The bloc is already under pressure from Norway…
Total losses from the US-Iran War still trail 1979 Oil Shock
LONDON, 3 July - According to calculations based upon data from the International Energy Agency, OPEC, and the U.S. Department of Energy, the 1979 Iranian Revolution is the greatest 'oil crisis in terms of cumulative supply losses. The U.S. and Israeli war against Iran has prompted comparisons to the 1973 Arab oil 'embargo', the Iranian Revolution, and the Gulf War of 1991, while highlighting the evolution of global energy markets.
The week's financial charts: Lag7, the coming oil glut and the yen in 1980s flashback
Every Friday, Open Interest distills the week's financial data into five key charts that highlight the trends, surprises, and missed moves of the previous five days. 1. OIL GLUT REBOUNDS RON BOUSSO is a columnist for ROI Energy. Dozens of oil tankers left the 'Middle East Gulf' since the U.S. &?Iran agreed to an interim agreement on June 17, which ended the war and reopened the Strait of Hormuz.
Andy Home: The recovery of battery metals is affecting the EV market.
The battery metals bubble has passed its peak. The prices of cobalt, nickel and lithium have all recovered from their lows in 2024-2025. The story has been largely a tale of supply restraint. Since February of last year, the world's largest cobalt producer - the Democratic Republic of Congo - has limited exports. Indonesia, which has a similar grip on the nickel supply chain as well…
Germany is in discussions to extend the oil reserve exemption, Economy Ministry says
A spokesperson for the German economy ministry said that it is evaluating whether to extend partial release of its oil reserves past this summer. In March, Germany temporarily reduced its stockpiling requirements to participate in an IEA coordinated emergency stock release due to the disruptions in Iran war supplies. The spokesperson said in an email…
OPEC Maintains Robust Oil Growth Forecast Over Next Four Years
OPEC maintained its forecast for robust global oil demand growth in the next four years on Thursday and nudged up its longer-term view, citing a worldwide shift towards more supportive policies for oil use and saying there was no sign demand would peak.The 11-member Organization of the Petroleum Exporting Countries depends on oil for a large part of government income…
OPEC maintains robust outlook for oil demand, but does not see a peak until 2050
* U.S. shale production likely peaked by 2025, according to the report (Source changed on OPEC website paragraph 3). LONDON, 18 JUNE - OPEC has maintained its forecast of robust growth in global 'oil demand' over the next four years and has shifted its long-term?view. It cited a worldwide shift to more supportive policies regarding oil usage and said there were no signs that demand would peak.
OPEC maintains robust outlook for oil demand, but does not see a peak until 2050
* Says shale production likely peaked around 2025, but that the U.S. LONDON, JUNE '18 - OPEC affirmed its forecast of robust growth in global oil demand over the next four years and boosted its long-term view. Citing a worldwide shift to more supportive policies relating to?oil usage, it said there were no signs that demand would peak. Organization of the Petroleum Exporting Countries…
IEA: Ukrainian attacks cause Russian oil production to fall 10% below target for May
The International Energy Agency (IEA), which is a part of the United Nations, said that Ukraine's attacks on Russia's energy infrastructure caused its crude oil production to drop by around 5% on an annual basis last month. This was 10% below May’s target. Ukraine has doubled its attacks on oil refineries since 2026 in an attempt to 'hit' a major source for Russia's war fund.
Trump's controversial plan to price minerals is met with skepticism from the G7 and a divided industry
According to diplomatic sources, and an analysis of corporate policies, the Trump administration's plan to increase critical?minerals by regulating prices has been met with skepticism from G7 allies, and a divided industry. Negotiations for a Western Trading bloc have stalled over concerns regarding cost and governance. The trading bloc was first proposed by U.S. vice president JD Vance back in February.
It will take several months for the Middle East to recover its oil and gas production
LONDON, 15 JUNE - An agreement framework between the U.S.A. and Iran to end the war and reopen Strait of Hormuz has sent oil prices plummeting as traders anticipated the return of flow. Industry officials claim that a return to the pre-war levels of production and refinement is likely to take several weeks, months or years. This article explores the major energy implications of this tentative agreement.
OPEC lowers its forecast for global oil demand growth in 2026
OPEC has lowered its projection for the world's oil demand in 2026, to 970,000 barrels a day. This is the second consecutive downward revision. The group has seen a lesser impact on consumption than other forecasters, such as the U.S. Energy Information Administration or the International Energy Agency. OPEC predicted that consumption would increase later, and increased its forecast of demand growth for 2027.
Denmark awards cement producers $2.6 billion to carbon capture and storage
Aalborg-Portland, the largest emitter of carbon dioxide (CO2) in Denmark, signed on Tuesday a contract for 16.5 billion crowns (2.55 billion dollars) worth of subsidies to be paid by 2030. Denmark has set one of the most ambitious goals in the world for greenhouse gas reduction. It aims to reduce emissions by 70% compared to 1990 levels. The CCS project will be key to cutting CO2 from difficult-to-abate sectors such as cement.
EU sets energy standards for data centers amid concern over rising power consumption
On Wednesday, the European Union announced that it would develop minimum energy efficiency?standards? for data centers, as concern grew over their rapid rise in power consumption. EU data center capacity is expected double over the next few years to 28 gigawatts in 2030, up from 12 GW. This expansion will increase their share in EU electricity consumption above the current 2.5%.
IEA predicts that stockpiles could be critically low before peak summer demand
The head of the International Energy Agency’s oil industry and market division warned on Tuesday that if the current rate of stock 'draws' continues, global oil inventories may reach critical levels before the summer peak. Bosoni, speaking at the S&P Global Energy Middle East Petroleum and Gas Conference held in London, said that a?agreement reached…
