Goldman Sachs analysts have revised their outlook for global oil demand upwards, now expecting growth of 600,000 barrels daily this year and 400,000 barrels daily in 2026. The bank, however, maintained its oil price forecast at $60 per barrel of Brent crude and $56 per barrel of West Texas Intermediate for this year, Reuters reported, citing a new note. Brent crude was trading at over $65 per barrel at the time of writing, and WTI was trading at over $62. Goldman’s analysts expect the benchmarks to fall further next year, to $56 for Brent…

China produced 3.8% more coal this April than a year ago, at 389.31 million tons. This was down from a month earlier when production hit a record but still strong enough to cement coal’s role in the country’s energy mix. Coal imports in April fell by 16% amid weaker prices that stimulated consumption of domestic supply. Production over the first four months of the year stood at 1.58 billion tons, customs data cited by Reuters revealed. The number represented an annual increase of 6.6%. Over the same period, thermal power generation…

The decline in oil prices and the prevailing uncertainty about the economy, trade, and supply chains are accelerating the peak in U.S. oil production despite President Donald Trump’s ‘drill, baby, drill’ slogan.   With the U.S. benchmark WTI crude prices at $60 per barrel, it’s mostly “hold, baby, hold” in the American shale patch, where output in the major basins except the Permian has already started to level off or drop.  The U.S.-China 90-day tariff pause and the start of trade talks did little…

Egypt is once again facing a resurgence of natural gas shortages, drawing headlines as the country enters the peak summer season. With soaring temperatures above 40°C expected in the coming months, electricity demand—driven largely by air conditioning—is putting intense pressure on the national grid. In response, the Cairo government is scrambling to implement emergency measures to avoid blackouts. Despite Egypt’s ambition to become a regional energy hub and key LNG supplier to Europe and global markets, the country is struggling…

Several parts of Africa have a long history of mining, with the sector contributing high levels of employment across the continent. As the demand increases for critical minerals – needed to fuel a green transition, mining companies are increasingly showing an interest in Africa for its vast untapped resources. Several countries could benefit from this increase in demand by developing their mining and processing industries to add value to the raw materials, which many have previously been unable to accomplish due to a lack of funding for greater…

India has suspended the Indus Waters Treaty with Pakistan, a major water-sharing agreement brokered by the World Bank. The move came on April 23, within a day of a deadly shooting in Pahalgam, in the Indian-administered part of Kashmir, marking the first time the treaty has been paused since the pact’s inception in 1960. In response, Pakistan stated that an attempt to stop the flow of water would be considered an “act of war”. Tensions mounted between the two nuclear-armed nations in the following weeks, breaking out into four…