The first 90 million barrels will be released between May and July, through two notices of sale totaling 70 million barrels, and 20 million barrels already scheduled to be released in May 2022.

According to data compiled by the U.S. Bureau of Economic Analysis, the Consumer Price Index (CPI) for ‘Energy’ in February 2022 was 25.6% higher than in February 2021, which is more than triple the increase of the CPI for ‘All Items,’ which was 7.9% higher over the same period.

Renewable sources accounted for more than one-eighth (12.61%) of the U.S. energy produced and 12.49% of the energy consumed for electricity, transportation, heating, and other uses.

U.S. Rig Count is up 3 from last week to 673, Canada Rig Count is down 16 from last week to 124.

The 2030 Emissions Reduction Plan is the first one issued under the Canadian Net-Zero Emissions Accountability Act. Canada will release progress reports in 2023, 2025, and 2027.

U.S. commercial crude oil inventories decreased by 3.4 million barrels from the previous week to 409.9 million barrels.

Crude oil exported from countries including Kazakhstan, Azerbaijan, and Turkmenistan moves through Russia’s energy export infrastructure.

The sanctions against Russia are the hardest we have seen against any country to date and in particular the decision to freeze $600bn of Russian foreign reserves is a first, which will have huge consequences in the long-term.

The dependence on Russian natural gas in Germany is so great that if supplies from Russia were to be stopped and the remaining quantities of natural gas distributed to Europe, Germany would have to reduce its natural gas consumption in the heating gas sector or in the industrial sector by 100 TWh per year .

President Duda said that, especially at the current time with "the Russian aggression on Ukraine", the diversification of energy supplies, including the import of American Liquefied Natural Gas, was of “extreme importance".

The document regulates cooperation on the planning and implementation of projects for clean energy production, alternative and strategic gas supplies, security of energy supply, clean energy, and development of nuclear energy, the Ministry said.

The Biden administration has set a goal of a carbon-free electric sector by 2035.

Customers get a cost-effective way to generate their own power, a source of backup power in the event of grid outages, and payment for power they send back to the grid.

Following a meeting with European Commission President Ursula von der Leyen in Brussels, President Joe Biden announced a new task force between the US and EU with a "joint game plan" to quickly reduce Europe's dependence on Russian gas

U.S. Rig Count is up 7 from last week to 670, Canada Rig Count is down 36 from last week to 140.