The United States criticized Iran's statement that it had begun the process of enriching uranium to 20%, well above the limit set in the 2015 nuclear deal that Washington abandoned, as a form of "nuclear extortion."

The OPEC+ group of oil producers should be vigilant and cautious despite a generally optimistic market environment because demand for fuels is still fragile and the new variant of coronavirus is unpredictable, the Saudi Arabia energy minister said on Monday.

The U.N. nuclear watchdog has confirmed in a report to member states that Iran has begun the process of enriching uranium to a higher level than it has done since its 2015 deal with major powers took effect, Iran's envoy to the agency said on Monday.

A 2015 nuclear deal between Iran and world powers is being eroded and efforts to revive the pact face a new challenge with a decision by Tehran to resume 20% uranium enrichment at an underground nuclear facility.

Iran has told the United Nations nuclear watchdog it plans to enrich uranium to up to 20% purity, a level it achieved before its 2015 accord, at its Fordow site buried inside a mountain, the agency said on Friday.

Global commodity markets ended 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic.

U.S. crude oil production was down more than 2 million barrels per day (bpd) in October from earlier this year, as weak prices and tepid demand due to the coronavirus pandemic weighed on output, a government report showed on Thursday.

Oilfield services provider Halliburton Co has eliminated all staff positions in Venezuela as a result of U.S. sanctions limiting its operations in the crisis-stricken OPEC nation, a spokeswoman for the company said on Thursday.

Oil prices are unlikely to mount much of a recovery in 2021 as a new coronavirus variant and related travel restrictions threaten already weakened fuel demand, a Reuters poll showed on Thursday.

Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth quarter results, but the gains would be overshadowed by an up to $20 billion asset writedown.

The United States has banned imports of palm oil from Malaysian producer Sime Darby Plantation from Wednesday over allegations of forced labour during production, the U.S. Customs and Border Protection (CBP) said.

Chinese iron ore futures advanced on the last trading day of 2020 to log a 54% jump this year, their second straight annual gain, supported by supply concerns and China's robust steel demand despite the coronavirus pandemic-led disruption.

Azerbaijan has started commercial natural gas supplies to Europe via the Trans Adriatic Pipeline (TAP), the energy ministry said on Thursday, beginning its push into the lucrative energy market dominated by Russia.

China will release more meat from state reserves to boost supply, commerce ministry spokesman Gao Feng told a regular news briefing on Thursday, readying for a jump in consumption over the approaching Lunar New Year holiday.

Indian farmer Shingara Singh has grown grain for 35 years and is one of thousands of protesters against agricultural reforms who have the power to help slash a huge annual bill of $10 billion for imports of vegetable oils.

Riots erupted in December in New Caledonia, a French territory in the Pacific, with protesters blockading nickel mines and challenging Brazilian mining giant Vale's latest attempt to sell its local business.

China has issued 5 million tonnes of clean marine fuel export quotas in the first release for 2021, to five companies including a private refiner, according to two trading sources with knowledge of the matter.

Energy, Wall Street's worst performing industry in 2020, could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday.

About half of U.S. energy company executives polled by the Federal Reserve Bank of Dallas expect their firms to increase capital spending in 2021, and another quarter of respondents see those expenditures remaining flat next year, according to a survey released on Wednesday.

Solar stocks dazzled in 2020 and looked set to wrap up a year ravaged by the COVID-19 pandemic with triple-digit gains amid a shift in focus to 'clean energy' as the outbreak decimated the global oil industry.