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The “Arab Spring” affected oil and gas supplies—most notably the complete, albeit temporary, loss of Libyan supply—while the tragic Fukushima accident in Japan had knock-on effects for nuclear and other energy sources around the world. bbl, they were the second-highest in inflation adjusted terms, behind only 1864.
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oilprices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. million barrels/day in 2014 to 7.55
The cost of generating power from renewable energy sources has reached parity or dropped below the cost of fossil fuels for many technologies in many parts of the world, according to a new report released by the International Renewable Energy Agency (IRENA). The regional weighted average LCOE for offshore wind varied from a low of US$0.10/kWh
The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. The decision also has impacted natural gas export prices negatively, since, for Russia's long-term supply agreements, they wholly or partially are indexed to oilprices.
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