Brent price drops after rising on Monday

August WTI futures fell by $0.21.

A bill expanding sanctions against Nord Stream 2 has been filed today in the US Senate

Bipartisan group of senators proposes to expand sanctions against any pipe-laying activities, technology upgrades, insurance services and certification for Nord Stream 2

OPEC compliance with output cuts was only 74% in May

Despite the few members who failed to being production down as low as promised, OPEC’s overall May production was the lowest that it’s been since 2002.

US oil and gas industry goes into ‘survival mode’ and cuts forecast expenditure by $85bn

In a bid to limit the damage inflicted by the global oil crisis and the impact of the ongoing pandemic, many companies are taking short-term risk mitigation measures to stay afloat

Coronavirus has suspended the construction of renewable energy facilities in America

Many people do not work due to quarantine, so the commissioning of new facilities is delayed.

America may buy shares in energy companies to stabilize the market

Trump promises to support the energy industry.