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Bloomberg OPEC’s Gulf members may need to pump almost as much crude as they can to cover swelling supply losses from Venezuela to Iran and beyond, the International Energy Agency said. “Rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world’s spare-capacity cushion, which might be stretched to the limit,” ...

Bloomberg Exxon Mobil Corp quit the American Legislative Exchange Council, a lobbying group bankrolled by fossil fuel companies, following a disagreement over climate-change policy. The oil giant won’t be renewing its membership after it expired in June, spokesman Scott Silvestri said by phone. Exxon had a public spat with ALEC in December when some members backed by climate skeptics such ...

Bloomberg Ontario Premier Doug Ford vowed to cancel and wind down more than 750 contracts for renewable power projects, making good on a campaign pledge to revamp the province’s energy policies. Terminating the early-stage projects, which the government didn’t identify, would save electricity customers in the Canadian province C$790 million ($600 million), Ford’s energy minister, Greg Rickford, said in a ...

Bloomberg Solar tariffs in India remained at record lows in the country’s largest federal auction of 3 gigawatts of projects, according to state-run Solar Energy Corp. of India. Acme Solar Holdings Ltd. won 600 megawatts of projects at the lowest tariff of 2.44 rupees a kilowatt-hour, the record low hit last May and then again in an auction earlier this ...

Bloomberg Oil companies operating in the central US want oil to average $69 a barrel before they’ll substantially expand drilling, according to the Federal Reserve Bank of Kansas City. That’s up from $56 a year earlier, according to a survey of firms released by the Kansas City Fed, which serves all or parts of seven states from Nebraska to New ...

Bloomberg US and North Korean officials met on Sunday to discuss the return of remains of American soldiers killed almost seven decades ago during the Korean War, with the talks offering a chance to ease tensions between the two sides as they argue over disarmament issues. The meeting began around 10 am Seoul time at the border village of Panmunjom, ...

Bloomberg President Donald Trump said he may ask Vladimir Putin to extradite 12 Russian intelligence agents indicted for hacking Democratic email accounts during the 2016 campaign, and said he has “low expectations” for his summit on Monday with the Russian leader. “I go in with low expectations,” Trump said in excerpts of an interview with CBS News released. “I’m not ...

Bloomberg A brittle calm took hold in the Gaza Strip and southern Israel on Sunday after the Palestinian enclave’s Hamas rulers and another powerful militant faction reported that efforts had succeeded to end a weekend of escalating violence. Hazem Qassem, a Hamas spokesman, said in an emailed statement that regional and international mediators crafted an agreement that led to a ...

Bloomberg UK Prime Minister Theresa May said US President Donald Trump advised her to be litigious in dealing with the European Union on Brexit. “He told me I should sue the EU,” May told BBC. “Sue the EU, not go into negotiations, sue them.” In an interview given before arriving in the UK, Trump criticised May for the way she ...

Bloomberg Italy has called on other European Union nations to take some of the 450 migrants aboard two ships in the Mediterranean after the country’s interior ministry refused to allow them to come ashore. “I expect facts and not words, concrete action,” said Matteo Salvini, who leads the anti-immigration League party and is both interior minister and a deputy prime ...