Benchmark futures dropped as much as 10.1% to 115 euros per megawatt-hour, the lowest intraday level since mid-June.

According to preliminary data, Gazprom produced 327.4 billion cubic meters of gas from January 1 through October 15, 2022. This is a decrease of 18 per cent (or 72 billion cubic meters) versus the same period of last year.

The EU has already asked members to voluntarily reduce gas demand by 15%, and Energy Commissioner Kadri Simson has said a plan is under consideration to make the cut mandatory.

Traders are on edge with Russian President Vladimir Putin saying any energy infrastructure in the world is at risk after the Nord Stream explosions, which he said benefited the US, Ukraine and Poland.

Ever since the Agency was created, Russia not only always supported it, but actually stood at its origins, since 1957, supporting the Agency’s activities all the way.

Director General Rafael Mariano Grossi met with Russian President Vladimir Putin as part of the IAEA’s efforts to prevent a nuclear accident during the current military conflict in Ukraine, stressing the urgent need to establish a safety and security protection zone around the Zaporizhzhya Nuclear Power Plant (ZNPP).

European authorities are on high alert for any signs of sabotage on energy infrastructure since the destruction of the Nord Stream gas pipelines last month.

EU energy ministers gathering in Prague on Wednesday will consider that model, which has already been adopted by Spain and Portugal, allowing consumers to avoid the worst of the price surges.

The OPEC+ alliance, co-chaired by Russia and Saudi Arabia, last week agreed to cut its production by 2 million barrels a day, the biggest reduction since 2020.

In total, Russian enterprises have manufactured and shipped more than 1,000 pedestals. The ITER Design Centre, a private institution under Rosatom, performs the functions of the Russian National Agency for ITER, responsible for ensuring Russia's in-kind contribution to the project.

Benchmark Dutch front-month futures dropped as much as 7.8% to 144 euros per megawatt-hour, the lowest intraday since July 1.

Europe's gas price benchmark, the TTF month-ahead contract, traded Oct. 7 below Eur160/MWh, more than 50% lower than peaks seen in late August.

The head of Germany's Federal Network Agency, which would be in charge of gas rationing in the event of a supply emergency, repeated his warning a week ago that consumption was too high.

Excluding Russia's share of Kazakhstan's CPC Blend exports, Russian crude exports averaged 2.99 million b/d in the month, down 290,000 b/d on the August levels and lowest since September 2021 when global oil demand was still recovering from pandemic lockdowns

Adjust downward the overall production by 2 mb/d from the August 2022 required production levels, starting November 2022 for OPEC and non-OPEC Participating Countries