Indeed, by 2025, companies in the steel, building materials, petrochemicals, non-ferrous metals, consumer goods, equipment manufacturing and electronics sectors with an annual revenue of CNY20m (US$2.9m) or more will have to cut their energy use by 13.5% from 2020 levels.

U.S. commercial crude oil inventories increased by 4.5 million barrels to 426.6 million barrels.

Brent were down $1.34, or 1.3%, at $99.20 a barrel, WTI fell $1.28, or 1.4%, to $93.14 a barrel.

The price of OPEC basket of thirteen crudes stood at $106.80 a barrel

His Excellency Haitham Al Ghais of Kuwait took office as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) at the Organization’s Secretariat in Vienna, Austria.

The Joint Technical Committee of OPEC+, which includes Russia, trimmed its forecast for a surplus in the oil market this year by 200,000 barrels per day to 800,000 bpd

The region imported almost 700,000 barrels a day of the fuel from Russia last month, higher than the previous month and a 22 per cent increase compared with July last year

Saudi Arabia would be looking to secure investments in untapped business sectors, including green hydrogen, renewable energy, and information technology.

Design certification means that the NRC has determined a nuclear power plant design meets all its applicable safety requirements, independent of an application to construct or operate a plant.

Brent was down $1.40, or 1.4%, to $98.63 a barrel, WTI fell $1.00, or 1.1%, to $92.89.

The price of OPEC basket of thirteen crudes stood at $110.90 a barrel

The boom in STS activity involving Russian crude came as Moscow's seaborne oil exports defied Western sanctions to hit post-pandemic highs of 4 million b/d in April 2022.

Rosatom’s grip on the international nuclear-fuel cycle -- from mining uranium to engineering reactor assemblies -- makes it hard for Washington to exclude Russia from discussions about atomic power.

Russia has cut exports to Europe to multiyear lows this summer -- supplying less than a third of normal volumes -- and there’s no clarity on further moves.

The reactor will be designed and constructed entirely by Iran and it and will complete Iran’s chain of research, assessment, test and certification for production of nuclear power.