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OPEC’s Influence on Oil Prices To Remain Significant In 2024

At their latest meeting in early December, the Organization of Petroleum Exporting Countries and its partners, led by Russia, agreed to reduce their combined production of crude oil to some 2.2 million barrels daily.

read more... 02/01/2024


OPEC+ Reaches Deal “In Principle” on Oil Output Cuts

OPEC+ reached a deal on Thursday that would see the group’s oil production cuts spill over into the new year—and at a level that is a deeper cut than is currently in place, delegates said following today’s JMMC meeting.

read more... 01/12/2023


Fuels industry urges EU countries to finalise dormant energy tax overhaul

The EU’s energy taxation directive (ETD), a proposal to bring energy tax rules in line with the bloc’s green goals, remains at a standstill more than two years after it was first proposed.

read more... 09/11/2023


Emergency EU oil meeting focused on securing diesel supply

European Union officials discussed diversifying oil stocks and creating a buffer for diesel and gasoil during an emergency meeting of the bloc's oil coordination group, one told Reuters.

read more... 30/10/2023


Three countries support construction of Burgas-Alexandroupolis oil pipeline

The oil pipeline project from the Greek port of Alexandroupolis to the Bulgarian port of Burgas is on the agenda of Bulgaria, Greece, and Romania in the context of greater energy, transport and digital connectivity in Southeast Europe.

read more... 11/10/2023