The United States is launching a series of meetings on “energy abundance” on Monday as part of the G20 meetings it is hosting this year, even as the war launched by President Donald Trump against Iran continues to disrupt global hydrocarbon flows.
The discussions will be held through Wednesday in Houston, Texas, bringing together delegations from some of the world’s largest economies, including China, India, Japan and Germany, as well as major oil producers such as Canada and Saudi Arabia.
Russian diplomats also said Saturday that Moscow would send several officials to the meetings.
The surprise attendance of Russian Finance Minister Anton Siluanov at a previous G20 meeting with his counterparts two weeks ago had caused unease among European allies, breaking with the exclusion of Russian officials that had been maintained since the start of the war in Ukraine.
Europe faces pressure ahead of winter
The arrival of Russian delegates comes as Europe struggles to replenish its gas reserves ahead of winter.
European countries have sought to reduce their dependence on Russian gas, but are now facing a sharp increase in energy prices as the conflict in the Middle East intensifies.
One of Washington’s priorities for the G20 is to “expand access to affordable, reliable and secure energy.”
However, since US forces, alongside Israel, launched strikes against Iran in late February, hydrocarbon flows from the Gulf have declined significantly.
Fuel prices soar in the United States
The disruption has also pushed up fuel prices in the United States.
According to the American Automobile Association, the average price of a gallon of diesel — equivalent to 3.78 liters — has now surpassed $6.20, a record level. Regular gasoline is meanwhile 44% more expensive than before the conflict.
The surge in prices has become politically sensitive for the Republican Party ahead of the November congressional elections.
Trump predicted Wednesday that the war with Iran would end “immediately” after the elections.
He also accused Ukrainian President Volodymyr Zelensky on Sunday of contributing to a “diesel shortage” through Ukrainian strikes on Russian refineries.
Washington expands its oil ambitions in Venezuela
Trump also announced this summer what he described as a “historic” agreement with Venezuela that would allow Washington to take control of 17 oil fields.
Their production potential is estimated at around 65 billion barrels. The United States is launching a series of meetings on “energy abundance” on Monday as part of the G20 meetings it is hosting this year, even as the war launched by President Donald Trump against Iran continues to disrupt global hydrocarbon flows.
The discussions will be held through Wednesday in Houston, Texas, bringing together delegations from some of the world’s largest economies, including China, India, Japan and Germany, as well as major oil producers such as Canada and Saudi Arabia.
Russian diplomats also said Saturday that Moscow would send several officials to the meetings.
The surprise attendance of Russian Finance Minister Anton Siluanov at a previous G20 meeting with his counterparts two weeks ago had caused unease among European allies, breaking with the exclusion of Russian officials that had been maintained since the start of the war in Ukraine.
Europe faces pressure ahead of winter
The arrival of Russian delegates comes as Europe struggles to replenish its gas reserves ahead of winter.
European countries have sought to reduce their dependence on Russian gas, but are now facing a sharp increase in energy prices as the conflict in the Middle East intensifies.
One of Washington’s priorities for the G20 is to “expand access to affordable, reliable and secure energy.”
However, since US forces, alongside Israel, launched strikes against Iran in late February, hydrocarbon flows from the Gulf have declined significantly.
Fuel prices soar in the United States
The disruption has also pushed up fuel prices in the United States.
According to the American Automobile Association, the average price of a gallon of diesel — equivalent to 3.78 liters — has now surpassed $6.20, a record level. Regular gasoline is meanwhile 44% more expensive than before the conflict.
The surge in prices has become politically sensitive for the Republican Party ahead of the November congressional elections.
Trump predicted Wednesday that the war with Iran would end “immediately” after the elections.
He also accused Ukrainian President Volodymyr Zelensky on Sunday of contributing to a “diesel shortage” through Ukrainian strikes on Russian refineries.
Washington expands its oil ambitions in Venezuela
Trump also announced this summer what he described as a “historic” agreement with Venezuela that would allow Washington to take control of 17 oil fields.
Their production potential is estimated at around 65 billion barrels.
US Energy Secretary Chris Wright and Interior Secretary Doug Burgum, both closely involved in the Venezuelan energy dossier, will attend the Houston meetings.
