In the face of uncertainties, the OPEC+ alliance has no choice but to remain vigilant. That statement was made by Prince Abdulaziz bin Salman Al Saud, Saudi Arabia's energy minister, in an interview with the Saudi Press Agency (SPA).

Last week, wind energy production in Europe spiked. Meanwhile, gas injected into the region's underground storage facilities exceeded its extraction rates for the first time since the heating season began. This is reported by Wind Europe, along with Gas Infrastructure Europe (GIE).

The first batch of diesel fuel from Kuwait has been sent to the European Union. As noted in the statement of the Kuwait National Petroleum Company (KNPC), which was received by the country's news agency KUNA, the fuel was produced according to special standards.

Many oil refineries located along the U.S. Gulf Coast were closed due to low temperatures. Although statements about the fast restore of production rates were made, fuel prices have already risen.

Power cutoffs and flight cancellations were not the only consequences of freezing temperatures across more of the U.S.

Japanese consumers of Russian LNG evaluate how the rules of shipping insurance may influence the supplies from a key project Sakhalin-2. It is located in the Far East of RF.

Gas futures in Europe fell 9.8% on Friday to end the week with a loss of 28%. Weather in many parts of Europe is expected to be milder in early January, which means that residents will not need to use much heat.

According to a statement made by Russia’s vice prime minister Alexander Novak, the country may increase the volumes of crude oil exports in case there’s a decline in refinery throughput because of the European Union’s banning fuel imports.

On Saturday, the head of the German government's council of economists said inflation could persist for the next two years. This is due to the fact that companies are moving towards a higher level of production costs, and even often exceeding it.

Beijing and Shanghai residents took to the streets and crowded subways of Chinese cities on Monday as COVID restrictions have been partially lifted.