The global oil demand growth forecast for 2024 remains broadly unchanged from last month’s assessment at 2.2 mb/d.

Novak is taking on additional responsibility for economic development and anti-sanctions measures after former economic development minister Andrey Belousov was named new defense minister in a dramatic change of guard during the third year of full-scale war in Ukraine.

Relations between Russia and Western nations have been in the deep freeze since Moscow's full-scale invasion of Ukraine in February 2022, but Norway has been keen to keep some limited cooperation alive through the Arctic Council.

In July 2022, the European Parliament voted to include certain nuclear and gas activities within the European Union's list of officially approved "green" investments.

"Our plan is that by the beginning of the next decade the share of Hungary's energy provided by nuclear power will be between 60 and 70 per cent."

The OECD's growth forecast for Russia has been significantly revised upward—from 1.8% to 2.6% for this year, placing it sixth globally.

China and France are two of the world's biggest generators of nuclear energy, with both having large-scale plans to expand capacity in the coming years.

ADIPEC 2024 will be held in Abu Dhabi from 4-7 November 2024, with a renewed commitment to advancing tangible action across the entire energy value chain, accelerating decarbonisation and advancing the global energy transformation.

Brent inched 4 cents higher to $83.40 a barrel, WTI rose 5 cents to $79.17 a barrel.

Total Russian seaborne crude exports reached 3.9 million-4 million b/d in March and April, boosted by multi-month high shipments to India, and around the highest since Russia invaded Ukraine in February 2022.