Energy crisis

Greece's economy is particularly vulnerable to fluctuations in international energy prices due to its high dependence on fossil fuels, and despite the support provided to industry and low-income households, could be severely affected by prices, the European Commission noted this week.

Sales of electric vehicles are booming and are expected to account for nearly one in five cars sold this year, according to a report released yesterday.

Oil prices continued to fall during trading on Thursday, hitting three-week lows on concerns that rising interest rates policies by leading central banks could limit global economic growth and fuel consumption going forward.

At the same time, the dollar has appreciated in the foreign exchange market, with its strengthening making oil more expensive for buyers in other currencies.

Global oil prices rose after several leading producers, led by Saudi Arabia, surprisingly announced production cuts, AFP reported.

Crude futures rose nearly eight percent, a day after several OPEC+ members unexpectedly announced production cuts totaling more than one million barrels per day.

Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia's deputy prime minister said yesterday.

Russia shifted its oil exports to India and China last year as European Union nations sought to end their reliance on Russian energy supplies after Moscow sent troops into neighboring Ukraine.

MT KOPAONIK - Serbian Minister of Mining and Energy Dubravka Djedovic said on Tuesday the government would ensure stable energy supplies in the period to come.

Companies operating in the services, real eatate sectors and export-oriented industries are keeping a close eye on finance and costs in 2023.

Uncertainties over energy security, supply-related issues and the EU's carbon tax will be high on Turkish companies' agenda in the new year.

But most industries are mainly concerned about energy costs and access to financing.

Ljubljana city authorities should use the energy crisis not only to drop Christmas lights but also reduce illumination of key buildings, including Ljubljana Castle and churches, to save energy and reduce light pollution, Dnevnik newspaper says in Tuesday’s commentary From Dusk to Dawn.

German annual inflation accelerated in September to 10%, hitting the highest level in more than 70 years, according to final unrevised data from Germany's official statistics agency Destatis.

The consumer price index (CPI) rose 1.9 percent in September from August, when it rose 0.3 percent, marking the strongest monthly gain since March, when it jumped 2.5 percent.

Deputy Finance Minister Theodoros Skylakakis spoke to ANT1 channel about the energy saving measures for the State and the government's plan for the energy crisis.

According to Mr. Skylakakis, the measures that will be announced today by him and the ministers of the Interior, Environment and Energy, will only concern the public sector.