(Bloomberg) --OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. The 23-nation alliance led by Saudi Arabia and Russia is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during the...

(Bloomberg) --Russia failed to boost oil output last month despite a generous ramp-up quota in its OPEC+ agreement, indicating the country has deployed all of its current available production capacity.  With OPEC+ meeting in two days to consider output policy in the face of the fast-spreading omicron variant, Russia’s lack of growth highl...

(Bloomberg) --Oil posted its biggest annual advance since 2009 as vaccination rollouts accelerated the reopening of economies, spurring global consumption while crude production returned at a more moderate pace. West Texas Intermediate rose 55% for the biggest year-to-date gain in over a decade. Brent, the global benchmark, rose 50%, the largest...

(Bloomberg) --The European Union is planning to allow some natural-gas and nuclear energy projects to be classified as sustainable investments in a proposal that sparked immediate criticism from the Greens. The European Commission wants to give a temporary green label to gas projects that replace coal and emit no more than 270 grams of carbon di...