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Cuba Bets on Solar Power as Energy Crisis Deepens
Cuba has been experiencing a worsening energy crisis for several years, which previously led it to rely heavily on Venezuela for its fuel. Following the United States’ intervention in Venezuela in Feb ...
Kansas Fed Pres Warns Oil Price Shock Might Not Be Transitory
Federal Reserve Bank of Kansas City President Jeffrey Schmid has warned that the current global energy shock cannot simply be dismissed as transitory, given already-elevated baseline inflation. Speaki ...
US Drillers Add More Rigs In Response to Higher Prices
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 562 ...
Secretive Azerbaijan Deal Raises Energy Security Concerns in Georgia
Recently signed deals between Georgia and Azerbaijan are raising fresh questions about Tbilisi’s strategic direction and energy security. The deals flowed out of a May 18 meeting in Baku between Georg ...
Japan Crude Imports Fell 66% in April
Amid the supply disruption in the Middle East, Japan’s crude oil imports crashed by 66% in April from the same month last year, official Japanese data showed on Friday. Japan imported 4.07 million kil ...
Oil Prices Set to Slump 19% in May as Market Bets on U.S.-Iran Deal
Early on Friday, oil prices were on track to plunge by 19% in May as traders and speculators bet on an extended ceasefire and an eventual U.S.-Iran deal despite the biggest physical supply disruption ...
Ceasefire Talks Trigger Massive Selloff in Crude Futures
July WTI crude oil suffered its largest weekly decline in months as traders aggressively removed geopolitical risk premium from the market on growing hopes that diplomacy between Washington and Tehran ...
Norway Lobbies to Persuade EU to Drop Arctic Drilling Ban
Norway, Western Europe's top oil and gas producer, has intensified lobbying at the European Union to persuade the bloc to remove or tweak its moratorium on Arctic oil and gas drilling. Norway, which i ...
Trump’s Iran Ceasefire Plan Faces Resistance From Israel Hawks
Trump is now openly using normalization with Israel as leverage in Iran negotiations, putting the 2020 Abraham Accords back in the spotlight. But today, the region doesn’t look the same as it did six ...
Iran Reconnects to the Internet After 88 Days in Digital Darkness
For 88 days, millions of Iranians lived in digital darkness after the authorities imposed a nationwide Internet shutdown following the outbreak of war with the United States and Israel. But the end of ...
US Crude Oil, Gasoline Inventories Continue Freefall
Crude oil inventories in the United States decreased by 3.3 million barrels during the week ending May 22, according to new data from the U.S. Energy Information Administration (EIA) released on Thurs ...
Suriname Wants Two Wins From One Block: Gas Is Done, Oil Could Follow
Suriname’s offshore Block 52, which has already yielded a major gas discovery, could be declared commercial for oil within the next year and a half, Annand Jagesar, managing director of Suriname’s sta ...