The global oil market is once again entering a period of sharp turbulence. Geopolitical conflicts, threats to critical energy transport routes, and rising inflation expectations have pushed energy prices upward. At first glance, such developments might seem to benefit oil-exporting countries. After all, higher prices mean higher revenues. Yet the reality of the modern energy economy is far more complex. Extremely high oil prices can be just as problematic for producers as a dramatic collapse in the market.

Editor’s note: Seymur Mammadov is a special commentator for News.Az and the director of the international expert club EurAsiaAz. The article reflects the author’s personal opinion and does not necessarily represent the views of News.Az.

By Asif Aydinly

By Samir Muradov

In the first nine months of 2024 Russian pipeline gas exports to China surged by 23% compared to the same period last year, according to data from China's General Administration of Customs. The monetary value of Russian gas deliveries during this period reached $6.1 billion, underscoring a significant strengthening of ties between the two countries in the energy sector.

The international banking and financial services corporation of the Netherlands, ING ( Internationale Nederlanden Groep ), has updated its forecast on the average price of Brent standard oil, News.Az reports.

According to the latest data from the National Bureau of Statistics of China, the country continues to strengthen its position in the global energy market by actively increasing domestic production of natural resources. From January to July 2024, the volume of natural gas production in the country increased by 6.2%, reaching 143.6 billion cubic meters, underscoring China's commitment to ensuring energy independence. Oil production also showed positive dynamics, rising by 2.1% to 124.96 million tons.

By News.Az

By Asif Aydinli

Azerbaijan exported 11 bcm of natural gas to the EU countries in 2023, according to the report by the European Commission for the fourth quarter of 2023, News.az informs.

The Council of the European Union adopted a resolution and a directive on Tuesday establishing common internal market rules for renewable and natural gases and hydrogen, and reforming existing EU gas legislation, News.Az reports citing Interfax.