Bloomberg Crude oil inventories will decline at a faster pace worldwide in the second half of the year as demand increases and OPEC members comply better with a global agreement to cut output, Kuwait’s OPEC Governor Haitham al-Ghais said. The Organization of Petroleum Exporting Countries and other major producers including Russia agreed in May to extend their supply-cuts deal through …

Bloomberg Wind and solar power don’t pose a significant threat to the reliability of the US power grid, Energy Department staff members said in a draft report, contradicting statements by their leader Rick Perry. “The power system is more reliable today due to better planning, market discipline, and better operating rules and standards,” according to a July draft of the …

Bloomberg Envision Energy, one of world’s largest wind turbine manufacturers, has bigger ambitions. Chief Executive Officer Lei Zhang laid out a vision for a global “ecosystem” of energy in which solar and wind farms, power plants, utilities, big electricity customers and all of the application and software developers that support them are connected to each other on a single, digital …