Saudi Aramco CEO warns global oil supply security margin is frighteningly small
The head of Saudi Aramco, the world's largest oil producer, says the margin for global oil supply security is "frighteningly small."
Business
IEA chief says Europe’s slow electrification is a major mistake
Electrification in Europe is moving too slowly, and that is a major failure, according to Fatih Birol, head of the International Energy Agency (IEA).
Business
IEA: UAE crude oil output hits record 4.1 million barrels a day
Crude oil production in the United Arab Emirates rose to a record average of 4.1 million barrels per day in June, according to monthly figures from the OECD countries' energy agency, the IEA.
Business
No new exemptions to U.S. sanctions on Russian oil
The Trump administration has chosen not to extend waivers to U.S. sanctions on Russian oil made last spring. The controversial waivers - which have been criticized for filling Russia's war chest - have opened up some shipments of Russian oil that were already loaded onto tankers.
Business
World oil reserves being depleted at record pace
Oil stocks around the world are shrinking at a record pace and will continue to decline, warns the Western energy organization, the IEA. According to the IEA, the stocks are being used to cover reduced oil supplies resulting from the war in Iran.
Business
European Commission to issue aviation fuel guidelines this week amid energy crisis
The European Commission plans to issue new guidelines on aviation fuel this week amid the energy crisis.
Business
Crude oil price highest since early April
The price of crude oil is rising on world markets. The canceled peace talks between the US and Iran and a higher price forecast from Goldman Sachs are pushing the price to its highest level in almost three weeks.
Business
Oil Peak: War Is Driving the World Towards Renewable Energy
The energy crisis that followed the Iran war is a turning point for the fossil fuel industry and is permanently steering the world towards renewable resources, Fatih Birol, head of the International Energy Agency (IEA), told The Guardian.
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