Russia

IEA: The world will gain enough renewable energy in 5 years to power China

London CNN Business — Global renewable power capacity is set to grow as much in the next five years as it has over the past two decades, as soaring energy prices and the climate crisis force governments to ditch fossil fuels. In a report published Tuesday, the International Energy Agency forecast a sharp acceleration in …

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Europe agrees to cap the price of Russian oil at $60 a barrel

London CNN Business — The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force. News of the deal, which had needed approval from Holdout Poland, was confirmed on Twitter by the president of the European Commission, Ursula von …

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Europe agrees to cap the price of Russian oil at $60 a barrel

London CNN Business — The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force. News of the deal, which had needed approval from Holdout Poland, was confirmed on Twitter by the president of the European Commission, Ursula von …

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Oil output cuts on the table ahead of Russia sanctions

OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy. Bloomberg | Bloomberg | GettyImages OPEC and non-OPEC oil producers could impose deeper oil output cuts on Sunday, energy analysts said, as the influential energy alliance weighs the impact …

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Russian oil sanctions are about to kick in. And they could disrupt markets in a big way

European oil sanctions are due to kick in on December 5. The idea is to reduce oil revenues for Russia given its war in Ukraine. Andrey Rudakov | Bloomberg | GettyImages Upcoming sanctions on Russian oil are set to be “really disruptive” for energy markets if European nations fail to set a cap on prices, …

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China And India Are Buying Russian Crude At A 40% Discount

The European Union on Friday once again failed to reach an agreement on a price cap for Russian oil, with the bloc’s eastern-most members including Poland, Estonia, Latvia, and Lithuania objecting that the proposed $60-$70 per barrel for Russian crude is too generous and well above the rates Russia currently sells crude. European Commission Vice …

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