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Oil Prices Gain 2% on Tightening Supply

Article Archive | Page 688

Dow Jones Erases All Gains Under Trump, Drops Below 20,000

Mar 18, 2020 at 12:01

The markets can’t seem to catch a break, with the Dow dropping below 20,000 points for the first time since 2017 as the coronavirus crisis continues to fuel…

Coronavirus Could Bankrupt 20% Of European Oilfield Services

Mar 18, 2020 at 10:55

More than 200 small- and medium-sized oilfield services operators in Europe, or 20 percent of all European oilfield services firm, could go bust as the coronavirus epidemic will hit the…

Iraq Desperate For OPEC Action As Oil Prices Crash

Mar 18, 2020 at 10:46

The Iraqi Oil Minister, Thamer al-Ghadhban, has asked OPEC’s head, Mohammed Barkindo to call an extraordinary meeting of OPEC+ to “discuss all possible ways” to reverse the oil…

Oil Crashes To 18-Year Lows As Inventories Build

Mar 18, 2020 at 10:03

Crude oil prices fell further today, with WTI prices falling to 18-year lows, after the Energy Information Administration’s latest weekly inventory report that estimated a 2-million-barrel build for the…

Is Saudi Arabia To Blame For The Looming Economic Recession?

Mar 17, 2020 at 18:11

Saudi Arabia has repeated the blunder it made in November 2014 by increasing oil production during an oil-price collapse. In 2014, it led to a depression in the oil industry.…

Looming Recession Sparks New Oil Sell Off

Mar 17, 2020 at 18:27

Travel bans, border closures, and recommendations for self-isolation amid the coronavirus pandemic have aggravated fears of a global recession and pushed money managers to intensify the sell off of crude…

IEA Calls For Emergency Clean Energy Aid Package

Mar 17, 2020 at 17:32

The coronavirus pandemic will almost certainly trigger a global economic recession, and the recession may have already started with major economies grinding to a standstill. The U.S. government has…

Can Big Oil Still Fund Its Renewable Energy Push?

Mar 17, 2020 at 15:32

Big Oil had just announced overhauled long-term strategies to soothe investor concerns about climate change and become part of the solution in the energy transition—and then came the big oil…

Giant LNG Projects Face Coronavirus Death Or Delay

Mar 17, 2020 at 14:52

Plummeting oil prices have been the focus of attention ever since Saudi Arabia and Russia fired the first shots in what analysts see as a potentially devastating oil price war.…

The Oil Price Collapse Is Far From Over

Mar 17, 2020 at 14:24

Oil prices fell on Monday, continuing to slide after taking major losses last week.  (Click to enlarge)…

Oil Plunges As Saudis Boost Exports To Record High

Mar 17, 2020 at 13:59

After having instructed Aramco to boost production to unseen levels, Saudi Arabia now plans to boost oil exports in May to a record 10 million barrels per day, causing oil…

How Coronavirus Is Saving Lives

Mar 17, 2020 at 12:55

While the headlines for the last few weeks have been a lot of COVID-19 related doom and gloom, one study has really stood out. It turns out that there is…

Oil Nations Could See Income Crash By Up To 85 Percent In 2020

Mar 17, 2020 at 11:17

The coronavirus pandemic and collapsing oil prices will slash the oil and gas revenues of vulnerable oil-reliant developing economies by up to 85 percent, the heads of OPEC and the…

Why The Oil Price Crash Won't Save Airlines

Mar 17, 2020 at 10:18

Under any other circumstances, air carriers would be happily popping champagne corks after the latest massive oil price slump. After all, fuel typically accounts for up to 20% of an…

Morgan Stanley Slashes Brent Oil Forecast To $30

Mar 17, 2020 at 10:04

Morgan Stanley further cut its oil price forecast, now expecting Brent crude to average $30 a barrel during the second quarter, from $35 a barrel earlier. Reuters quoted the…

Oil Demand To Plunge By 10 Million Barrels Per Day

Mar 16, 2020 at 18:00

As major economies go into lockdown, oil demand continues to fall off a cliff. On Monday, WTI fell into the $20s. “The additional quarantine measures imposed in France, Spain…

Saudi Aramco Is ‘’Very Comfortable’’ With $30 Oil

Mar 16, 2020 at 16:45

Saudi Arabia will continue to pump oil at increased levels through May, Saudi Aramco Chief Executive Amin Nasser said on Monday during an earnings call, according to Reuters. Nasser added…

Russia Makes Move On Antarctica’s 513 Billion Barrels Of Oil

Mar 16, 2020 at 14:45

Rosgeologia’s seismic surveys and other related work since the 70s to now indicate that there is at least 513 billion barrels of oil and gas equivalent in Antarctica,…

Wall Street’s Big Coronavirus Mistake

Mar 16, 2020 at 14:27

Investment professionals on Wall Street spend their days reading financial reports and looking at numbers flash on screens. These numbers record the moment-to-moment changes in the collective wisdom of markets…

The Most Destructive Oil Price Crash In History?

Mar 16, 2020 at 14:23

As markets brace for yet another week of total liquidation (even gold fell below $1500), oil drillers are preparing for the worst. Last time crude traded this low, back in…

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