(World Oil)– Oil reversed Friday’s decline as U.S.-led talks to end the war in Ukraine failed to yield a breakthrough, and China vowed to support growth next year. Brent traded near $62 a barrel, while West Texas Intermediate topped $58. The U.S. has stepped up a push to end the war, but sticking points remain, highlighting the difficulty in reaching
(Oil Price)– CNOOC Ltd, China’s top offshore crude oil and natural gas producer, has announced the discovery of a major new oilfield in the Bohai Sea. The Qinhuangdao 29-6 discovery in the shallow Neogene formations of the Bohai Sea is yet another oilfield estimated to hold more than 100 million tons of crude, or about 730 million barrels, and discovered
(Oil Price)– Falling U.S. energy sales in China and India failed to offset increases elsewhere in Asia as the Trump Administration’s trade policies have upended Asia’s energy imports. While Japan and South Korea have increased their imports of American crude oil, China has slashed U.S. crude and LNG imports, after halting purchases of LNG in February in response to the trade frictions
(Investing)– Global coal demand reached a record high in 2025 but is expected to decline by 2030 as renewables, nuclear power and abundant natural gas squeeze its dominance in power generation, the International Energy Agency said on Wednesday. Weaning the world off coal is considered vital to achieving global climate targets, but the fossil fuel remains the single biggest fuel
(Oil Price)– Amid major policy shifts, next year will see the first-ever decline in annual solar power capacity installations, following the weakest growth in seven years in 2025, according to BNEF’s Global PV Market Outlook. Developers are set to add globally a total of 649 gigawatts (GW) of solar power capacity in 2026, which would be a slight drop compared to
(BOE Report) – Venezuela’s oil exports rose slightly to some 921,000 barrels per day (bpd) in November, the third-highest monthly average so far this year, as the country used more diluents to produce exportable grades, according to shipping data and documents. The OPEC producer is under increasing political pressure from the U.S., which has struck a score of alleged drug-smuggling
(BOE Report)– Russia sees scope to boost oil exports to China and to deepen cooperation on supplies of liquefied natural gas, Deputy Prime Minister Alexander Novak said on Tuesday in Beijing. China and India have become the main buyers of Russian oil since the start of Russia’s military campaign in Ukraine in February 2022. China imports roughly 1.4 million barrels
(Oil Price) – The G-20 is tiptoeing around China with a sledgehammer. In a draft declaration seen by Bloomberg, leaders called for shielding the global critical-minerals value chain from “unilateral trade measures inconsistent with WTO rules”—a diplomatic way of saying: everyone noticed what China did this year. Beijing’s licensing chokehold on dysprosium, terbium, and other heavy rare earths rattled supply chains from missile makers
(Oil Price)– China’s crude oil imports last month remained elevated, with purchases from some countries hitting all-time highs, according to customs data cited by Reuters. Imports from the UAE, for instance, rose from 2.05 tons a year ago to 3.82 million tons last month, while purchases from Kuwait went up from 970,000 tons to 2.36 million tons, the data showed. Imports
(Oil Price) – Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are still struggling to assess the implications of the sanctions, according to JPMorgan. “Russia’s oil exports are entering a new phase of disruption as sanctions targeting Rosneft and Lukoil
(Investing)– U.S. President Donald Trump will host the leaders of five Central Asian nations at the White House on Thursday as the U.S. seeks to gain influence in a region long dominated by Russia and increasingly courted by China. The talks take place amid intensifying competition for Central Asia’s vast mineral resources. Western nations are seeking to diversify supply chains
(Investing)– China’s President Xi Jinping met with Canada’s Prime Minister Mark Carney on Friday, with the leaders vowing to advance bilateral relations and Carney accepting Xi’s invitation to visit China. They held a summit on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum in Gyeongju, South Korea, part of Carney’s tour of Asia in an effort to deepen trade
