The US oil price tumbled more than six percent Monday, a day after producers decided to increase output and as stock markets slumped with surging Covid cases threatening economic recovery. The benchmark US crude contract, WTI, was down by 6.1 percent at $67.42 per barrel around 1435 GMT. Europe’s Brent North Sea shed 5.4 percent

The U.S. Department of Energy announced on Wednesday a new goal to support the increased rollout of more wind and solar power in the grid by reducing the cost of grid-scale, long-duration energy storage by 90 percent within the decade. The DOE initiative has very ambitious goals to accelerate breakthroughs in technology that could enable

In recent years, China’s energy consumption structure is clean and low-carbon transformation is accelerated in line with the trend of energy development. In 2020, the proportion of non fossil energy in primary energy consumption in China will be 15.9%, reaching the world average level, and the proportion of coal consumption will drop to 56.8%. By

The green chemical industry park in the northwest of Lanzhou New Area has launched the “liquid solar fuel synthesis demonstration project”. The project consists of three basic technical units: solar photovoltaic power generation, hydrogen production from electrolytic water and methanol synthesis from carbon dioxide hydrogenation. A 10 MW photovoltaic power station will be built to

S & P global proctor’s recent analysis shows that in the second half of the year, the global pure benzene market is expected to restore the balance between supply and demand. As far as the US market is concerned, the data show that the export of pure benzene from South Korea to the US has

By the mid-1920s, there will be a global copper supply gap of nearly 6 million tons, but the projects that need to fill this gap are facing many difficulties. Since hitting an intraday high of $4.888 per pound (US $10776 per ton) in May, the copper market has cooled significantly, but its long-term fundamentals remain

In recent years, the increasing export of refined oil has been regarded as a “routine” matter by the market. Under the background of oversupply, the sharp reduction of export quota of refined oil has caused a high degree of market tension. From the perspective of the combination of market and policy, the sharp reduction of

The OPEC + meeting decided to continue to maintain the production increase plan formulated in early April. After the production increase in May and June, the total production increase was 841000 barrels per day in July. However, it is expected that global demand may recover more than seasonally from July to August. Therefore, it is

In order to thoroughly implement the spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the deployment of the outline of the 14th five year plan, and deepen the price mechanism reform in key areas during the 14th Five Year Plan period, the national development and Reform Commission recently issued the

Analysts say multiple pressures from domestic and international markets have cooled commodity prices. On the one hand, the domestic multi-party intensive efforts to maintain the stable operation of commodity prices. The two recent executive meetings of the State Council both mentioned the issues related to the price rise of bulk commodities. The executive meeting of