OPEC+ members are in talks to lengthen current crude oil output curbs instead of loosening the restrictions as envisioned in their April agreement, per reports in Bloomberg and Reuters.
Driving the news: The OPEC+ group — which includes OPEC, Russia and allied producers — are eyeing an extension of the 9.7 million barrels per day production cut for one or two months, Reuters reported. Bloomberg notes it could be three.
Carbon pricing via taxes and emissions trading systems are growing worldwide but confront a mix of old and new problems, a new World Bank report shows.
Driving the news: The share of global greenhouse gas emissions covered by some kind of pricing system is slated to reach an estimated 22% next year.
Two European industrial firms announced on Monday a joint venture to recycle battery materials and aluminum from electric vehicles in Norway, where EVs are gaining substantial market share.
Driving the news: The Swedish company Northvolt and the Norwegian aluminum giant Norsk Hydro plan to establish initial recycling operations next year.
Oil edged lower in overnight trading Monday after five straight weeks of gains, including a 5% rise on Friday, pausing after a record 88% increase from its low point in May.
What happened: Last month's surge brought oil back from negative pricing thanks in large part to increasing expectations for consumer demand to return and a deal to cut production by the Organization of the Petroleum Exporting Countries and major producers like Russia.
Climate change and the coronavirus have a lot more in common than the letter C, but their differences explain society’s divergent responses to each.
Why it matters: The Internet is full of comparisons, some from biased perspectives. I'm going to try to cut through the noise to help discerning readers looking for objective information.
