Oil prices | Euronews

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Markets

Oil prices keep rising, experts foresee $100 a barrel

After a short pause last week, oil prices are on the rise again fuelled by Russia's temporary ban.

Austria

OPEC+: Riyadh to reduce oil output, others to extend previous cuts

In order to keep crude oil prices stable on the world market, the OPEC+ countries, including heavyweight Russia, have agreed to maintain previous production cuts through 2024, while Saudi Arabia cuts output by 1 million barrels per day.

Austria

OPEC+ members meet in Vienna to discuss oil production strategy

The OPEC+ countries discuss their current production strategy in Vienna. New oil production cuts could result from the meeting as signs of discord between top crude oil producers Saudi Arabia and Russia set the tone of the talks.

Ecotech

German solar school hopes to train ‘unbelievable number of people’

As German solar demand surges, a new school has opened to train workers.

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Saudi Arabia

Saudi oil giant Aramco reports record profit of €151 billion for 2022

Aramco is the latest energy company to announce record earnings in 2022, helped by soaring energy prices following Russia's war in Ukraine.

Russia

Price cap on Russian oil comes into force despite Moscow's threats

The $60-a-barrel cap on Russian oil approved by the G7 comes into force on Monday despite Moscow's threats.

Russia

Moscow and Kyiv criticise $US60 oil price cap set by Western allies

The Kremlin announced that it will not accept the EU oil price ceiling set to take effect on Monday, along with an EU embargo on Russian oil shipped by sea.

Europe News

EU countries agree to cap Russian oil at $60 per barrel

EU ambassadors spent the last few days debating the level of the price cap, which will have implications across global markets.

Earth News

Fuel crisis: Kenyans burn toxic plastic bags just to cook food

As fuel prices rise, many people in Nairobi’s poorest areas have begun burning plastic to cook their meals.

Earth News

France passes new bill allowing recycled cooking to be used as fuel

France’s new bill will allow citizens to power their diesel vehicles with recycled cooking oil.

No Comment

Ecuador: clashes between protesters and police on fuel price cuts

Protesters in Quito burn tires as police use tear gas during a march to demand a fuel price cut amid rising inflation, unemployment, and poverty in the oil-producing South American country.

Ecotech

As G7 commits to banning Russian oil, is fermented fuel the answer?

Wheat husks, pulped sugar beets and onion peelings could help curb Europe’s energy crisis, as farmers brew up biogas from agricultural waste.

Earth News

What is a windfall tax and how would it help with the cost of living?

Some European countries are already taxing fossil fuel companies for the huge profits they have made during the energy crisis.

Earth News

Energy crisis: Could public information campaigns change habits?

We spoke to historians about what lessons WW2 has for today, as Russia's war sparks a new need to cut oil and gas use quickly.

World News

Reduce consumption to avoid crippling oil supply crunch, says IEA

The International Energy Agency has unveiled a 10-point plan to rapidly cut back global oil use, in the wake of Russia's invasion of Ukraine.

Albania

Rising prices spark protests in Albania, government to control hike

Already low, the purchasing power of Albanians is likely to be battered due to the destabilisation of markets by the war in Ukraine and sanctions against Russian aggression.

USA

Fighting gas prices, US to release 50 million barrels of oil

President Joe Biden on Tuesday ordered 50 million barrels of oil released from the US' strategic reserve to help bring down energy costs.

Tech News

Fuel prices at an all-time high in Hungary and expected to climb more

Hungarians have seen the price of fuel reach an all-time high, and prices are expected to go even higher on Friday.

World News

Oil prices rise amid prospect of widespread fuel shortfalls

Brent crude touched $80 a barrel on Tuesday for the first time in three years as markets grappled with the prospect of widespread fuel shortfalls heading into the end of the year.

Iraq

Iraq imposes curfew, cuts internet as major protests turn violent

Iraq’s government cut internet access, imposed curfews and deployed forces to secure key facilities amid protests aimed at toppling the regime.