The framework agreement was signed in Moscow today by Rosatom Overseas President Yevgeny Pakermanov and Nenad Popović, Serbian Minister without Portfolio in charge of Innovation and Technological Development and president of the Intergovernmental Committee for Cooperation with Russia.

Iraq's OPEC+ quota rose to 4.193 million b/d last month, from 4.149 million b/d in October, as the coalition continued to raise production caps.

The carbon benchmark hit a fresh record of 90.75 euros on Wednesday.

OMV Petrom plans to invest €11bn by 2030, with over 35% going to low and zero-carbon opportunities.

U.S. commercial crude oil inventories decreased by 0.2 million barrels from the previous week to 432.9 million barrels.

Brent rose 39 cents, or 0.5%, to $76.22 a barrel, WTI rose 48 cents, or 0.7%, to $72.84 a barrel.

Storage facilities are now only 66% full, a level of depletion they would not normally reach until the middle of January in an average winter.

Korea's National Fusion Research Institute announced in November that plasma operation at 100 million degrees Celsius, an essential requirement for nuclear fusion, successfully continued for 30 seconds during the latest tests at the Korea Superconducting Tokamak Advanced Research (KSTAR) facility.

Commonwealth Fusion Systems (CFS) announced on 1 December that it has closed on more than $1.8 billion in Series B funding to commercialise fusion energy. This includes capital to construct, commission, and operate SPARC, the world’s first commercially relevant net energy fusion machine.

Polish national energy policy calls for the construction of 6 to 9 GWe of installed nuclear capacity based on large-scale pressurised water nuclear reactors, with the first of those units to come online around 2033.

Brent were down 83 cents, or 1.1%, to $74.61 a barrel, WTI was at $71.07 a barrel, down 98 cents or 1.4%.

OPEC's 13 countries pumped 27.85 million b/d, up 300,000 b/d from October, while Russia and eight other partners produced 13.86 million b/d, up 200,000 b/d

We expect Brent prices will average $71/b in December and $73/b in the first quarter of 2022 (1Q22). For 2022 as a whole, we expect that growth in production from OPEC+, of U.S. tight oil, and from other non-OPEC countries will outpace slowing growth in global oil consumption, especially in light of renewed concerns about COVID-19 variants. We expect Brent prices will remain near current levels in 2022, averaging $70/b.

"According to the report, not only would the early closure of nuclear power plants trigger an increase in consumer costs, it will also result in negative environmental impacts," noted Foratom Director General Yves Desbazeille.

A cold snap would be very grim, especially as the government sold off gas storage, and the country only has about three days worth in reserve, less than other European countries.