The International Energy Agency (IEA) sees the current level of oil storage in member states sufficient to take action if required to stabilise oil markets, and sees no need to increase strategic reserve requirements

Russian Deputy Prime Minister Alexander Novak said in an interview that there were no plans to create an international natural gas cartel similar to the Organization of the Petroleum Exporting Countries

The head of Brazil’s state oil firm Petrobras said it will sign a memorandum of understanding with mining giant Vale to study potential joint ventures in renewable energy, even as looks to new suppliers for diesel

Russia has not discussed with the OPEC+ group of leading oil producers a possible crude oil supply increase to compensate for Russia’s fuel exports ban, the Kremlin said

Sept 24 (Reuters) – Russian crude oil supplies increased 50% this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported citing data from analytics company Kpler

Russia has temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect in order to stabilise the domestic market, the government said

Crude exports from the world’s largest oil exporter fell to 6.01 million barrels per day (bpd) in July, down about 11.6% from the previous month’s 6.8 million bpd and the lowest since June 2021

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman defended OPEC+ cuts to oil market supply, saying international energy markets need light-handed regulation to limit volatility

The Organization of the Petroleum Exporting Countries (OPEC) said data-based forecasts do not support the International Energy Agency’s (IEA) projection that demand for fossil fuels would peak in 2030

According to the report, OPEC expects that global oil demand will rise by 2.25 million barrels per day in 2024, compared to the growth of 2.44 million bpd in 2023