Oil settles lower after hitting $ 90 / bbl as OPEC + considers output cut

OPEC + has begun talks on output cut at Oct. 5 meet – OPEC source Russia seen suggesting OPEC + cuts output by 1 mln bpd – source US markets slide on Fed’s aggressive moves to tame inflation US production to return after shutting for Hurricane Ian NEW YORK, Sept 29 (Reuters) – Oil prices … Read more

Citroen says EV concept uses cardboard and has top speed of 68 mph

Citroen’s oli concept car photographed in Paris on September 29, 2022. The carmaker says it has a top speed of 68 miles per hour. Eric Piermont | AFP | Getty Images French automaker Citroen released details of a new electric concept vehicle Thursday, with its CEO telling CNBC that the electrification of individual transport represented … Read more

Exclusive: Europe braces for mobile network blackouts

PARIS / STOCKHOLM / MILAN, Sept 29 (Reuters) – Once unthinkable, mobile phones could go dark around Europe this winter if power cuts or energy rationing knocks out parts of the mobile networks across the region. Russia’s decision to halt gas supplies via Europe’s key supply route in the wake of the Ukraine conflict has … Read more

Credit Suisse says it’s time to buy

Credit Suisse says the “green” hydrogen sector is about to get a boost, and it’s time to get invested. “Green hydrogen is a growth market,” the bank said, describing it as an “essential” technology in reaching net-zero targets, as the world shifts toward renewables. It expects production to expand about 40 times by 2030, it … Read more

Oil prices fall for a second day on concerns for expected recession

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS / Dado Ruvic / Illustration Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected … Read more

These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market

Another difficult week for US stocks ended with shares of oil producers sliding and Ford Motor Co. tumbling further on concerns over supply shortages. The S&P 500 SPX fell 1.7% on Friday for a one-week decline of 4.6%, as investors continued to fret about the Federal Reserve’s interest-rate increases to temper inflation. Among components of … Read more

Oil plunges to eight-month low on strong dollar, recession fears

A general view shows the oil refinery of the Lukoil company in Volgograd, Russia April 22, 2022. REUTERS / REUTERS PHOTOGRAPHER Register now for FREE unlimited access to Reuters.com Register Brent, WTI down about 5% for week Recession fears weigh as major central banks hike rates Stalled Iran nuclear deal, Ukraine fears cap oil’s losses … Read more

Energy Earnings Set To Ease, But Oilfield Services Remain Strong

The energy sector has enjoyed bumper profits in the current year, with Big Oil companies setting records right, left and center. ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX) and Shell (NYSE: SHEL) together brought in $ 46 billion in earnings in the second quarter, with all three setting new records for quarterly earnings. Overall, high commodity … Read more

Saudi Aramco Shares Some Hard Truths About Our Energy Future

Policymakers need to look beyond this winter and stop vilifying the oil and gas industry if they want to prevent the next energy crisis, according to the chief executive of the world’s biggest oil company and largest crude oil exporter, Saudi Aramco. Amin Nasser criticized the short-term emergency responses to the energy crisis in Europe … Read more

Europe burns cash to help businesses in energy crisis

Register now for FREE unlimited access to Reuters.com Register European gas prices have soared amid Ukraine crisis Utilities face liquidity crunch Germany will ‘do everything possible’ to help firms Russian mobilization triggers oil price jump BERLIN / LONDON, Sept 21 (Reuters) – Germany nationalized gas importer Uniper (UN01.DE) on Wednesday and Britain said it would … Read more