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November 22, 2021

OPEC considers lowering production to account for oil reserve releases- oil and gas 360

OPEC considers lowering production to account for oil reserve releases

November 22, 2021

World Oil (Bloomberg) –OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a coordinated release of their strategic petroleum reserves. India became the latest major consumer to contemplate deploying its stockpiles, potentially assisting the U.S., Japan and China in a move to dampen the inflationary threat of higher

Tapping US SPR will make oil supply situation worse- oil and gas 360

Tapping US SPR will make oil supply situation worse

November 22, 2021

Fox Business There is some speculation the White House may soon announce a plan to curb sky-high energy prices, which could include tapping the U.S. Strategic Petroleum Reserve [SPR]. Reports circulated again Thanksgiving week that President Biden has asked other countries, including Japan and China, to do so. Now, Biden and his team need a lesson in economics. If you try to use

Analysis: 'Living hand to mouth': Europe's gas crunch shows little sign of easing- oil and gas 360

Analysis: ‘Living hand to mouth’: Europe’s gas crunch shows little sign of easing

November 22, 2021

Reuters LONDON/OSLO – Consumers in the European Union and Britain face further gas price spikes this winter as flows of Russian gas via major transit routes are proving too little, too late. The new Nord Stream 2 pipeline running from Russia to Europe might have eased a tight market. But it has faced more delays as German certification has been

TotalEnergies, Eni to invest billions in Libyan energy projects- oil and gas 360

TotalEnergies, Eni to invest billions in Libyan energy projects

November 22, 2021

World Oil (Bloomberg) –France’s TotalEnergies SE and Italy’s SpA said they were ready to invest billions of dollars in Libya as the OPEC nation emerges from a decade of conflict and civil war. “I want to contribute to Libya’s comeback,” TotalEnergies’ Chief Executive Officer Patrick Pouyanne said on Monday at an energy conference in the capital, Tripoli. “Some may see

Oil prices pressured by both supply and demand factors- oil and gas 360

Oil prices pressured by both supply and demand factors

November 22, 2021

Reuters LONDON- Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe and a potential release of Japanese oil reserves, raising concerns about both oversupply and weak demand. Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest since Oct. 1. By 1007

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