ENERGY

Oil prices extended their recent plunge (to five-month lows) overnight following across-the-board inventory builds reported by API (especially at the Cushing hub). This morning's weak ADP report added more selling pressure (demand anxiety building on China concerns) as supply soars with US oil exports near record highs amid record high domestic crude production flooding the market, overshadowing Saudi Arabia’s pledges that OPEC+ will deliver on its planned production cuts.

Non-OPEC (more…)

By Charles Kennedy of OilPrice.com

Global emissions from the combustion of hydrocarbons such as oil and gas are set for another record this year, the Global Carbon Budget report has warned.

Released during the COP28 conference, the report said that global emissions will reach 36.8 billion tons this year, which would be a 1.1% increase in 2022, the report’s authors said.

The report is produced by a group of scientific institutions led by the University of Exeter.

These (more…)

Recent conversations about climate change, emissions, and health have put a spotlight on the world’s energy sources.

As of 2021, nearly 90% of global CO₂ emissions came from fossil fuels. But energy production doesn’t just lead to carbon emissions, it can also cause accidents and air pollution that has a significant toll on human life.

Visual Capitalist's Freny Fernandes introduces this graphic by Ruben Mathisen uses data from Our World in Data to help visualize (more…)