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The organisation also expects global oil demand to drop by 1.1 million barrels per day before recovering next year on falling prices.",{"type":553,"attrs":584,"content":585},{"textAlign":49},[586,588,595],{"text":587,"type":558},"In renewables, Portugal's government has announced plans to create new areas where renewable energy development can be fast-tracked, boosting a sector that already provided 80% of the country's electricity consumption in Q1 2026. Electricity prices in both Portugal and Spain were among the lowest in Europe in the first part of the year, as recent buildout of renewables capacity in both countries shielded it from a spike in fossil fuel prices since the beginning of ",{"text":589,"type":558,"marks":590},"the Iran war",[591],{"type":575,"attrs":592},{"href":593,"uuid":49,"anchor":49,"target":579,"linktype":594},"https://intelligence.benchmarkminerals.com/publications/special-issues/the-sulphuric-acid-supply-squeeze-and-its-impact-on-critical-minerals-1","url",{"text":596,"type":558},".     ",{"type":598,"attrs":599},"blok",{"id":600,"body":601},"d200c24a-eb31-4c5f-8e42-e875db73a1e2",[602,608],{"id":603,"_uid":604,"type":605,"component":606,"fixed_height":607,"use_fixed_height":50,"fixed_height_mobile":607,"fixed_height_tablet":607},"29382294","i-1f861b0d-cc1f-4815-be16-7d8b9148c98c","visualisation","ContentFlourish","",{"id":609,"_uid":610,"type":605,"component":606,"fixed_height":607,"use_fixed_height":50,"fixed_height_mobile":607,"fixed_height_tablet":607},"29382313","i-0523a15c-5ce6-4dc6-8d21-efe4494357e0",{"type":560,"attrs":612,"content":613},{"level":562,"textAlign":49},[614],{"text":615,"type":558},"Energy in the news this month",{"type":617,"content":618},"bullet_list",[619,635,642,649],{"type":620,"content":621},"list_item",[622],{"type":553,"attrs":623,"content":624},{"textAlign":49},[625,627,633],{"text":626,"type":558},"The US allowed a waiver of sanctions on Russian oil, initially introduced to mitigate heightened energy prices amid the Iran war, to lapse without renewal, with ",{"text":628,"type":558,"marks":629},"President Donald Trump",[630],{"type":575,"attrs":631},{"href":632,"uuid":49,"anchor":49,"target":579,"linktype":594},"https://intelligence.benchmarkminerals.com/publications/special-issues/trump-one-year-in-review",{"text":634,"type":558}," indicating the waiver may not be reintroduced following the deal to end the war",{"type":620,"content":636},[637],{"type":553,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":558},"Russian oil output fell 10% short of government targets in May due to Ukrainian strikes on Russia's energy infrastructure, down 5% year-on-year",{"type":620,"content":643},[644],{"type":553,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":558},"EU proposals for the spending of member nation income on cross-border energy infrastructure after Sweden threatened restrictions of its electricity exports in protest at the plans",{"type":620,"content":650},[651],{"type":553,"attrs":652,"content":653},{"textAlign":49},[654],{"text":655,"type":558},"Brazil's government said it would end diesel and gasoline subsidies should crude prices remain steady around the $80 per barrel mark",{"type":598,"attrs":657},{"id":600,"body":658},[659,662,665,668],{"id":660,"_uid":661,"type":605,"component":606,"fixed_height":607,"use_fixed_height":50,"fixed_height_mobile":607,"fixed_height_tablet":607},"29410060","i-195f3256-c4d0-4254-a095-479c24016ede",{"id":663,"_uid":664,"type":605,"component":606,"fixed_height":607,"use_fixed_height":50,"fixed_height_mobile":607,"fixed_height_tablet":607},"29382300","i-d8fa1b7b-dcac-423e-813e-4b4f193c5357",{"id":666,"_uid":667,"type":605,"component":606,"fixed_height":607,"use_fixed_height":50,"fixed_height_mobile":607,"fixed_height_tablet":607},"29382311","i-873e3ed5-4a03-4590-bbc8-fafe191e6be3",{"id":669,"_uid":670,"type":605,"component":606,"fixed_height":607,"use_fixed_height":50,"fixed_height_mobile":607,"fixed_height_tablet":607},"29382305","i-2f8f0d43-fa43-4c40-b0fc-14a4b465c3ed","Brent crude prices remain elevated this month, as US President Donald Trump’s visit to China appears not to have produced a breakthrough on an end to the Iran war and a relaxation of tensions in the Strait of Hormuz. US oil exports rose to their highest ever level as European and Asian demand grew as a result of the squeeze on Middle Eastern supply.","briefing",[674,677,680],{"slug":675,"name":676},"geopolitics","Geopolitics",{"slug":678,"name":679},"sustainability","Sustainability",{"slug":681,"name":682},"new-energy","New Energy","private","Jun 17, 2026","17th June 2026",[],[],1781799444839]