World oil output fell by 130,000 barrels per day last year to 81.53 million according to BP's 2008 Statistical Review of World Energy. The increase in prices reflects supply constraints as demand from emerging markets is growing strongly.
As he met with German Chancellor Angela Merkel, Russian President Dmitry Medvedev made energy a key focus of his first trip to western Europe, offering to give his European partners more say in Russian oil and gas deliveries.
After a minor incident at a nuclear plant, Slovenia apologized to its EU neighbors. Does the event highlight the dangers of this technology or confirm that it's all under control? Should we doubt nuclear power's safety?
Drawing a parallel to the 1970s oil crisis, Ben Bernanke, president of the Federal Reserve, said the US economy was holding up well in the face of "severe oil-price shock" because the country was less dependent on petroleum.
President Evo Morales has nationalised the gas and oil distributor Transredes, which is co-owned by Dutch and US interests. The Bolivian energy minister, Carlos Villegas, called the move an "historically transcendental act".
Vladimir Putin is in Paris, making his first major foreign visit since becoming prime minister three weeks ago. His trip focuses on bolstering energy links with the EU. So is it business as usual, despite Putin's new title?
French President Nicolas Sarkozy arrived in Poland on Wednesday to establish a 'strategic partnership' in areas that include research, defense and nuclear power. His visit includes an address to the country's parliament.
Despite the vote of Gaz de France workers' council against the decision to merge GDF with Suez, both companies will soon meet to sign the final takeover accord and create one of the largest energy firms in the world.
Crude continues to rise after reaching a record of one hundred and thirty dollars a barrel last week. Forecasts leave little room for optimism and many are tempted to draw parallels with the landmark crises of 1973 and 1979.