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The Latest Breaking News from Oil

Oil prices climb as world's biggest exporters agree to cut output

In Vienna, ministers from the 13-nation Organization of the Petroleum Exporting Countries (OPEC) and a group of 10 exporters led by Russia agreed to reduce production by 2 million barrels a day from November. The move pushed up global oil prices, but the Kremlin says production reduction is intended to…

Radio France Internationale

Drivers issued warning as petrol prices could rise again as oil supply slashed

Oil supplies are set to be cut by two million barrels per day and experts are warning drivers that they could see the knock-on effect at the petrol pumps as prices are expected to rise.

Glasgow Live

Tesla To Feel Pressure After Musk's Twitter-Deal News; OPEC Output Cut Disappoints Biden; Shell Profits Low: Top Stories Thursday, Oct. 6

Benzinga

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Drivers warned petrol prices could rise as oil supply slashed by 2m barrels a day

Drivers taking to the roads soon have been warned that they could see rise in petrol prices yet again - news which comes after it was confirmed oil production will be slashed by two million barrels per day.

Edinburgh Live

Just Stop Oil: Police arrest 32 people on Trafalgar Square for obstructing the road in protest

The Metropolitan Police have arrested 32 people at a Just Stop Oil protest in central London.

Evening Standard

Calls for Government support on heating oil for Northumberland families as prices spiral

The leader of Northumberland County Council has pointed out the authority is already providing additional support

Chronicle Live

Why could petrol prices rise again soon? Everything drivers should know

Motorists are being warned that the price of petrol could climb again.

Daily Record

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A secretive legal system lets fossil fuel investors sue countries over policies to keep oil and gas in the ground – podcast

A new barrier to climate action is opening up in an obscure and secretive part of international trade law, which fossil fuel investors are using to sue countries if policy decisions go against them.

The Conversation

First Thing: Biden administration angered by Opec+ oil output cut

Senior figures see decision as slight on US and sign that oil producers’ club is aligning with Russia. Plus, can brown noise help you concentrate?

The Guardian - UK

OPEC's October surprise: Gift to GOP

Who benefits from higher oil prices and a new spike in inflation? Mitch McConnell and Kevin McCarthy, for starters

Salon

Water was once as precious as oil is today: Tirthankar Roy

Economic historian Tirthankar Roy on how we overcame floods and droughts, and the price we paid for it

The Hindu

OPEC+ production cuts pile further pressure on global inflation

The decision by the OPEC+ oil cartel to lower global production to 2 million barrels per day starting in November has prompted the US to dip into its Strategic Petroleum Reserve to dampen prices. An upcoming price cap on Russian oil could also add more inflationary pressure if Moscow decides…

France 24

Shell’s rapid growth to slow as weaker gas trading hits profits

Europe’s largest oil and gas firm says margins in refining business have nearly halved, hitting third-quarter profits

The Guardian - UK

Petrol prices ‘to rise again’ after oil exports cut by 2m barrels a day

Members of the OPEC decided to make their biggest cut in oil production since 2020

The Independent UK

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Asharq Al-Awsat

Lebanon Years Away From Gas Riches Despite Israel Deal, Analysts Say

Lebanon is nearing agreement with Israel over a maritime dispute involving offshore gas fields, but the cash-strapped country still faces an uphill struggle towards unlocking potential hydrocarbon riches, analysts said. "A deal would mark one step forward but it does not mean that Lebanon has become a gas- or oil-producing…

Tribune News Service

Editorial: Poisonous abandoned oil wells are all over North Texas

Tens of thousands of dangerous and abandoned oil wells pierce the Texas landscape.

Tribune News Service

Quick Fix: Skillet Lasagna a comforting fall weeknight meal

I love to make lasagna, but it takes time to make. So, I created this Skillet Lasagna. It has the flavors of my favorite lasagna but takes about 15 minutes to make. It’s perfect for a comforting fall weeknight meal. The lasagna noodles are broken into small pieces, boiled and…

Reuters

Explainer-Israel, Lebanon closing in on maritime border deal

Lebanon and Israel are closer than ever to signing a deal demarcating their maritime border, opening the door to new oil and gas exploration, after years of U.S.-brokered negotiations.

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The Guardian - UK

Ducks by Kate Beaton review – powerful big oil memoir

The cartoonist mines her time working in Canada’s oil fields to paint an angry and humane picture of the destructiveness of humankind

Wales Online

Motorists warned that petrol prices are set to rise again

RAC says its a question of when, not if, prices increase

Asharq Al-Awsat

ADNOC CEO: Policies Aimed at Pulling the Plug on the Current Energy System are Misguided

Energy security is essential for social, economic and climate progress, said Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC). Speaking at the Energy Intelligence Forum in London, Dr. Al Jaber said market sentiment does…

Daily Mirror

Drivers warned petrol prices will rise after oil supply slashed by 2m barrels a day

Members of the Organisation of the Petroleum Exporting Countries (Opec) and Russia have agreed to cut oil production by two million barrels per day as part of plans to stabilise prices

Evening Standard

FTSE 100 Live: Oil price holds gains after OPEC move, Imperial Brands plans £1bn buyback

Brent crude futures remained near $93 today as traders evaluated OPEC’s controversial move to cut oil production by two million barrels a day from next month.

Asharq Al-Awsat

Saudi Energy Minister Tackles Int’l Press Questions for an Hour

In a nearly-hour long conference, Saudi Energy Minister Prince Abdulaziz bin Salman, who also chairs the OPEC+ joint ministerial committee, tackled world-press inquiries about the future of oil market trends and outcomes of OPEC meetings with a sense of humor and joy. “Enjoy the sun…It’s going to be a sunny…

The Independent UK

What the papers say – October 6

The national mastheads focus on further Tory turmoil and attacks by dangerous dogs.

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