OPEC approves output rise of about 1 Mn barrels

OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil minister of the cartel's kingpin Saudi Arabia said Friday.

Plastic waste in Antarctica reveals scale of global pollution - Greenpeace

Plastic waste and toxic chemicals found in remote parts of the Antarctic this year add to evidence that pollution is spreading to the ends of the Earth, according to environmental group Greenpeace.

OPEC ministers agree to extend oil production cut deal until end of 2018

OPEC ministers agreed at the meeting on November 30 to extend the oil production reduction agreement until the end of 2018, Oil and Gas Minister of Oman Mohammed bin Hamad Al Rumhy told TASS.

Global wine production down in 2017 due to severe drought conditions

An international winery organization said Tuesday that global wine production is expected to fall this year -- due largely to severe weather conditions that have hamstrung key regions of the industry.

Moscow, Riyadh to Propose Oil Output Cut Deal Extension for Another Nine Months

Moscow and Riyadh are set to propose the prolongation of the Vienna agreement on oil output cuts for another nine months, the joint statement of the Russian and Saudi energy ministers said Monday.

Russia to Create Monitoring Group to Control Oil Output Reduction

Russia and Kuwait would head a monitoring committee overseeing the oil output agreement between the Organizations of the Petroleum Exporting Countries (OPEC) and a number of other oil producing states, Azerbaijan's Energy Minister Natig Aliyev said Saturday.

Venezuelan proposal to freeze oil output can stabilize prices. A price of 80 $ benefits the global economic system

Venezuela's proposal for oil-producing countries to freeze oil output could stabilize prices in the next few months if adopted, President Nicolas Maduro said Friday.

Brent Oil Price Hits Highest Level in a Year

Brent North Sea crude rose to $53.45 a barrel on Monday — its highest price in a year after President Vladimir Putin indicated Russia was ready to join measures to limit global oil production.

Russian Energy Minister sees no reasons for oil production freeze at current price

No reasons are in place to contract or freeze oil production at its current price, Russian Energy Minister Alexander Novak on Friday in an interview at the St. Petersburg International Economic Forum (SPIEF).

OPEC meeting ends without deal on oil production freeze

The world's biggest oil producers have failed to reach an agreement at a meeting aimed at freezing output and reassuring markets that a recent recovery in prices could be sustained.

Around 17 countries expected at oil output freeze talks in Doha — Russian energy minister

Russia’s Energy Ministry has received preliminary information on participation of 17 countries in the meeting in Doha scheduled for April 17, the Minister Alexander Novak said Wednesday, adding that more accurate information will be available by the end of this week.

Russia, Saudi Arabia Agree Oil-Output Freeze

Russia and Saudi Arabia, the world's two largest crude producers, have agreed to freeze output, as long as others follow suit.

Russia's Gazprom may build LNG plant on the Black Sea. Russia plans to triple sales of LNG on world market

Russian gas giant Gazprom is studying economic viability of the construction of an LNG plant on the Black Sea, the company said on Monday.

Oil prices dipped Friday in a market burdened by a persistent oversupply of crude.

At about 1300 GMT, US benchmark West Texas Intermediate (WTI) for delivery in December was trading down 37 cents at $40.17 a barrel.

Oil Crashes to Lowest Price in Six Years on China Fears

WTI crude has dropped below $40 per barrel for the first time in six years on Friday.

Oil Prices Drop on Glut Supply Fears

Oil prices resumed their fall on Monday edging down to just under $42 a barrel.

UN agency monitors El Niño's impacts on food production

The World Food Program (WFP) is closely monitoring the El Niño weather pattern and preparing for the possible impacts it will have on food production, said UN Spokesperson Stephane Dujarric here Friday.

Climate change 'set to fuel global food crisis'

Global food shortages will become three times more likely as a result of climate change according to a report by a joint US-British taskforce, which warned that the international community needs to be ready to respond to potentially dramatic future rises in prices.

OPEC chief says oil cartel 'not ready' to cut production

OPEC Secretary-General Abdullah El-Badri said on Thursday (Jul 30) the oil producers' cartel is not planning to cut production despite the fall in crude prices over recent months and concerns about the possible addition of Iranian oil in the market.

Interview: how to charge firms for CO2 emissions without it costing jobs (EP)

Charging companies for CO2 emissions can be a great way of encouraging them to become cleaner, but also risks pushing them to move production to somewhere with lower environmental standards. The European Commission aims to prevent the practice known as carbon leakage by continuing to give some allowances away for free. Bas Eickhout proposed to block this decision, saying many industries can afford to pay for the allowances. The environment committee voted against his proposal on 24 September.

Some industrial sectors in the EU are given a substantial share of their CO2 emissions allowances for free, as it is feared they would otherwise relocate if they had to pay for them. The Commission has now prepared a list of sectors at risk of relocating on the assumption of a €30 price per allowance.