OPEC+ has been sticking to its script of bringing on 400,000 b/d of crude to the market each month, with the Saudi energy minister suggesting panic buying is causing much of the market tightness.

Chinese energy firms and government researchers expect a significant increase in gas demand for power generation and industrial sectors this winter as a nationwide coal supply crunch and power outtages drive up demand for alternative fuels.

The increase in supply should help alleviate some of the price pressure in the domestic gas market as trucked LNG prices have soared to more than Yuan 7,000/mt ($1,093.82/mt), imported LNG remains over $30/MMBtu in the spot market and wider energy shortages persist amid cold weather.

On Tuesday, Moldova received a million cubic meters of gas from Poland in a move aimed at diversifying its energy supply following years of strong Russian influence over the small European nation of 3.5 million people.

Brent fell $1.13 cents, or 1.3%, to $85.27 a barrel, WTI were down $1.44, or 1.7%, to $83.21 per barrel.

Nuclear’s contribution to achieving the UN Sustainable Development Goals

"Domestic trucked LNG prices have recently surged to above Yuan 7,000/mt but the terminals continue to limit volumes sold downstream. I think these prices can continue to rise ... Yuan 8,000/mt sounds achievable now,"

Kremlin-controlled Gazprom cut supplies to Moldova by one-third last month following the end of a long-term contract and demanded more than double the previous terms to keep gas flowing.

Australia is seeing a rapid rise in the addition of solar power and has over 80 hydrogen projects planned, with renewable energy-based schemes outnumbering blue hydrogen schemes.

Brent was down 55 cents, or 0.6%, at $85.44 a barrel, WTI dropped 56 cents, or 0.7%, to $83.20.

"For example," said Grabchak, "a project for the construction of a Primorsky nuclear power plant is being worked out today." He did not give any further details, but said that President Vladimir Putin had instructed officials to update plans for both nuclear and hydro development by the end of this year.

In the third quarter of 2021, the Government Pension Fund Global returned 0.1 percent, equivalent to 31 billion kroner.

Saudi Arabia also intends to develop carbon capture use and storage (CCUS), and to reduce global methane emissions in 2030 by 30% relative to 2020 levels. It will focus on energy efficiency in industry, building and land transportation and plans to retrofit the entire pool of public and governmental assets and facilities.

As of end-2020, China had nearly 282 GW of installed wind capacity, and over 253 GW of solar capacity.

Australia's adoption of a net zero emissions target is significant as it is one of the largest producers and exporters of fossil fuels and falling in line with the UN mandated net zero pledge would signal there could be tighter regulations on emissions reduction.