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International oil prices

International oil prices:

11/28 closing: OPEC+meeting may deepen production reduction, coupled with factors such as the weakening of the US dollar exchange rate, international crude oil futures closed higher, with WTI 76.41 up 1.55; Brent 81.68 up 1.70

1.    OPEC - Consider further production cuts before Thursday's meeting: On November 28th, according to Reuters, OPEC+insiders stated that although their policy meeting has been postponed to Thursday due to quota differences among some oil producing countries, OPEC+is considering deepening oil production cuts. Several analysts have stated that they expect OPEC+to extend or even deepen production cuts until next year to support oil prices

2.    Report on Insufficient Emission Reduction in the Global Oil and Gas Industry: On November 27th, the international environmental agency Greenpeace released a report titled "The Phantom of Emission Reduction: Risks and Case Studies of Forestry Carbon Sinks in the Global Oil and Gas Industry", pointing out a huge gap between the global oil and gas industry's emission reduction efforts and the 1.5 ℃ global warming target set by the Paris Agreement. The report shows that among the top 10 global oil companies in terms of revenue, although some companies have set short-term to long-term emission reduction goals, none of them have short-term to medium-term emission reduction goals that are consistent with the goal of controlling global temperature rise below 1.5 ° C

3. Uniper, a German energy giant, has been fined $600 million by a court for pricing issues related to LNG contracts. On November 27th, according to Reuters, Uniper stated that according to an arbitration court ruling, the company is required to pay € 550 million ($600 million) to a European liquefied natural gas supplier. Uniper stated that the arbitration proceedings involve pricing terms in a long-term liquefied natural gas (LNG) supply agreement signed with an undisclosed partner