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Energy as a subject of relations between the EU and the USA has been characterised by considerable synergy on security of supply issues, and efforts to enhance free trade in energy products and services, cooperate on geopolitical challenges and nuclear safety, reduce greenhouse gas emissions and promote renewable energy sources. The recent lifting of US export restrictions on crude oil and natural gas is likely to increase energy trade with the EU, and allow Member States to benefit from lower energy ...

The price of oil has fallen significantly since June 2014, from a peak of US$115 per barrel (bl) then to US$26 per barrel in January 2016, although it has somewhat recovered recently. This can partly be explained by weaker demand, robust supply growth and the expanding coverage of mandatory energy effciency provisions worldwide. These changes come at a time of major turmoil in parts of the Middle East. Iraq – with the world’s fifth largest oil reserves – is engaged in the fight against ISIL/Da’esh ...

Since its establishment in 2014, ISIL/Da'esh has become one of the most dangerous terrorist organisations in history, due to its ideological appeal, territorial expansion, and diverse sources of revenue, including from oil sales. As plunging oil prices reduce the 'caliphate's' profits, they may also bear a negative impact on the capacities of the anti-ISIL/Da'esh coalition.

The quest for oil markets abroad can be seen as an attempt by US companies to find higher prices and profits and avoid bankruptcy, since the current low price of oil, resulting from OPEC's strategy of oversupplying the market, is making shale-oil production in the US less and less profitable. The impact of potential US oil exports on the European Union's energy security is expected to be limited in the short term. The oil market is oversupplied, prices are depressed and are only expected to increase ...

Recent Trends in Energy Prices

Selvitys 15-12-2015

After a dramatic fall in 2014, oil and fuel prices in euro terms increased in the first part of 2015, before decreasing again and since mid-2015 to record low levels, similar to early 2015. However, retail gas and electricity prices - which traditionally follow similar trends with some delay stabilized or in some cases even increased, in large part due to higher taxes. Large differences persist amongst EU Member States and commodities. Conversely, most experts claim that fossil fuel prices can be ...

Energy supply in the EU28

Lyhyesti 24-06-2014

The EU is highly dependent on energy imports, as less than half of its energy consumption is covered by domestic production. The remainder – some 53% - needs to be imported from abroad, with Russia topping the ranks as supplier of gas, oil and coal.This infographic looks at the Member States' domestic energy production, their dependency rate on external supplies, and their net imports. It also provides a picture of the diversification in foreign energy suppliers.

Oil prices have increased considerably over the past years at global level, while natural gas and other energy prices have seen differing developments in each world region. The present report examines the level of impact of high oil prices on European energy prices and analyses the underlying mechanisms. Policy options to reduce this impact are discussed.

This study looks at the ways in which the transport of goods is influenced by significant variations in oil prices and focuses on carriers’ responses in the various transport sectors. It investigates the relations between oil prices and the transport sector, by taking into account the evidence of the impact of recent price hikes on transport businesses and their response. Indeed, the spike in oil prices in the first half of 2008 has been taken as an opportunity to carry out an evidence-based analysis ...