The oil cartel finalizes its strategy to complete unwinding 2.2 million barrel production cuts from 2023. Market analysts anticipate supply surplus concerns later this year despite current demand strength.

El Teniente mine collapse results in fatalities and production halt at world's largest copper deposit. The incident underscores supply risks for the critical energy transition metal.

Exxon targets 50% Permian production increase to 2.3 million barrels daily by 2030, while Chevron focuses on maintaining current 1 million barrel output for cash flow optimization. The companies become reluctant partners in Guyana operations after arbitration ruling favored Chevron's Hess acquisition.

US battery storage capacity could reach 120-150 GW by 2030 from current 26 GW levels, driven by grid stability needs and favorable tax credit policies. Industry experts predict over $1 trillion in global battery energy storage system investments over the next decade.

State regulators in Ohio, Indiana, and other states implement targeted tariffs for data centers to shield consumers from rising electricity costs. These measures aim to address the unprecedented power demand surge from AI-driven data centers that could triple current consumption by 2028.

The energy services sector consolidates further as Baker Hughes outbids Flowserve to acquire Chart Industries in an all-cash transaction. The deal positions Baker Hughes to capitalize on growing LNG export demand and data center infrastructure expansion.

Chinese electric vehicle manufacturer BYD opens its first European production facility in Hungary, targeting 300,000 annual units by 2030. The facility represents China's strategic push to bypass EU tariffs while challenging Tesla and traditional automakers on their home markets.

Enterprise Products Partners' leadership condemned the temporary U.S. ethane export ban to China during earnings discussions. The restrictions, implemented as trade leverage, disrupted American energy exporters and compromised the reliability of U.S. energy supplies.

The largest U.S. regional grid operator announced significant wholesale electricity price increases for 2025, primarily attributed to surging power demand from artificial intelligence data centers. Residential customers across 13 states face potential bill increases up to 5%.